Toncoin (TON) Surges Toward $3.55 Resistance as $558M Institutional Buying Sparks 20% Monthly Rally

Toncoin (TON) is currently trading at $3.49, showing a modest 0.09% gain in the past 24 hours as it tests a crucial resistance level at $3.55. The cryptocurrency has demonstrated strong performance with a 20% monthly increase following the August 10th announcement of a $558 million institutional accumulation program. This strategic capital injection has significantly strengthened market confidence and created consistent buying pressure.

Technical analysis reveals promising upside potential, with the Relative Strength Index (RSI) positioned at 57.81 in neutral territory while displaying early signs of a bullish crossover. Market participants are growing increasingly optimistic about TON's short-term trajectory, with many anticipating an imminent breakout above the $3.55 resistance level.