Usman Salis
Something big is brewing with Toncoin. After months of sideways action that had many traders losing interest, TON just delivered the kind of breakout that gets technical analysts excited. The price has decisively broken above a falling wedge pattern that's been forming since earlier this year, and the implications could be massive for anyone paying attention.
TON Bulls Eye $8 Target in Major Breakout Play
The numbers tell the story here. TON is currently trading at $3.32, down 2.16% on the day, but don't let that minor pullback fool you. According to recent analysis shared on X (formerly Twitter), this breakout is targeting the $8.00 level – which would represent a stunning 147.7% gain from current prices.
Falling wedges are among the most reliable bullish reversal patterns in technical analysis, and TON's setup looks textbook perfect. The pattern typically signals that selling pressure is weakening while buyers slowly accumulate positions. When the breakout finally happens, it often leads to explosive moves as shorts get squeezed and momentum traders pile in.
Critical Support Zone Holds the Key
Here's what really matters for TON holders: that $2.80–$3.00 support zone has become absolutely crucial. This range has acted like a brick wall against selling pressure throughout the entire wedge formation, proving there's serious buying interest at these levels.
As long as TON stays comfortable above $2.80, the bullish scenario stays alive and kicking. But if we see a daily or weekly close below that level, it could spell trouble for the breakout story and push that $8 target further down the road.
The technical setup is there, the pattern has played out as expected, and now it's all about execution. TON has given bulls exactly what they wanted to see – now they need to follow through.
Usman Salis
