Peter Smith
Toncoin just pulled off something traders love to see - a clean breakout that actually stuck. After weeks trapped in a falling wedge, TON smashed through resistance and is now sitting pretty at $3.25 with a solid +1.2% daily gain. The move came right after a brutal liquidity sweep near $3.00 that shook out the weak hands, and now the bulls are back in control.
Technical Setup Points to Higher Prices
Trader Naveed called it perfectly, spotting the market structure shift and fair value gap retest that confirmed this wasn't just another fake-out. With the technical stars aligning, TON's next stop could be the $3.56-$3.60 zone where the next batch of sellers are waiting.
Support zones at $3.00 and $3.09 are holding strong after that nasty liquidity sweep - classic sign that buyers stepped up when it mattered. The current price of $3.25 shows bullish momentum is building, and the immediate target of $3.56-$3.60 represents the next major liquidity pocket on the charts.
Here's what's working in TON's favor right now. The falling wedge breakout is textbook bullish - these patterns have a solid track record of leading to strong moves higher. That liquidity flush below $3.10 was brutal but necessary, clearing out all the weak positions and leaving only committed buyers. Plus, the broader altcoin market is showing positive momentum, which gives TON some nice tailwinds.
If TON can keep closing above $3.16, the odds of hitting $3.56 and beyond start looking really good. The chart structure is clean, the momentum is building, and the next resistance zone isn't too far away.
What's Next for TON
As long as TON stays above that $3.00-$3.10 support range, this breakout stays valid and the bulls remain in charge. The $3.56-$3.60 zone is where things get interesting - that's where traders will find out if this move has legs or if it's time for some consolidation.
Right now, everything's pointing to another leg higher, making TON one of those altcoins worth keeping on your radar as we head deeper into Q4. The technicals are aligned, the weak hands got flushed out, and the momentum is building.
Peter Smith
