Usman Salis
Despite a 3.96% daily drop, Toncoin (TON) bulls are defending the crucial $3.39 support level, with technical signals pointing toward a potential breakout to $4.00.
TON Price Holds Critical Support Despite Market Pressure
Trading at $3.391 with a 3.96% daily decline, Toncoin is showing impressive resilience at a key technical level. According to recent analysis shared on X, the former resistance at $3.39 has successfully flipped into support – a bullish signal that often precedes significant price moves.
Over recent months, TON has consistently formed higher lows, indicating strong buying interest at progressively elevated levels. This pattern suggests institutional accumulation might be occurring behind the scenes, as each dip gets bought up quickly.
Technical Setup Points to Potential TON Price Breakout
The daily chart reveals a well-established uptrend pattern, with price action holding firmly above the reclaimed $3.39 support zone. If bulls maintain control, the next target sits at the recent swing high near $3.80.
A successful break above $3.80 could trigger a run toward the psychological $4.00 level, potentially sparking additional buying interest. However, traders should watch for a potential drop below $3.39, which might trigger a pullback toward $3.20 where buyers could emerge again.
The key factor to monitor is volume – heavy buying volume defending the $3.39 level would signal that bulls are serious about pushing TON toward its next major resistance level.
Usman Salis
