Peter Smith
Toncoin (TON) fell over 5% in 24 hours but analyst Ali Martinez still believes TON could reach $5.30 if it stays above $2.87.
Toncoin's having a tough time right now, dropping over 5% as altcoins get hammered again. But don't write it off just yet – Ali Martinez, a pretty sharp on-chain analyst, thinks TON could still climb to $5.30. That's a bold call considering what's happening in the market.
The whole altcoin space is getting crushed as Bitcoin keeps hogging all the attention. TON's feeling the pain too, trading at $3.13 after losing 5.07% in the last day. It actually touched $3.26 earlier but couldn't hold onto those gains – classic crypto move.
What's really concerning is the volume collapse. We're talking about a massive 53.94% drop to just $336.14 million. When volume dries up like that, it usually means people are losing interest, at least for now. But Martinez says if TON can stay above $2.87, his bullish target is still in play.
Toncoin (TON) Shows Mixed Signals Right Now
The technical picture isn't all doom and gloom though. TON's RSI is sitting at 58.91, which is pretty neutral – not oversold, not overbought. That's actually decent because it means there's room for the price to move either way without hitting extreme levels.
Martinez is watching that $2.87 support like a hawk. If TON holds above it, he thinks the path to $5.30 stays open thanks to some rising trendline and positive community vibes. But here's the catch – that falling volume is a real problem. Without more people jumping in to trade, even the best technical setups can fall flat.
And let's not forget about whale games. If some big holders decide to dump their bags, things could get messy real quick. The crypto market's funny like that – one whale sale can wreck everyone's day.
Toncoin (TON) Price Needs to Clear Major Hurdles
For TON to actually hit that $5.30 target, it's got some serious work to do. First, it needs to get back above $3.30 and show it can stick there. That would signal buyers are getting interested again.
The real test comes at $3.57 to $3.60 – that's been a tough resistance zone. If TON can flip that area from resistance to support, it would be pretty bullish. After that, there's the big psychological level at $4.00. Everyone watches round numbers, and breaking above $4.00 could trigger the breakout Martinez is talking about.
One thing that could help is positive news from the TON ecosystem. There's talk about some 10-year golden UAE visa thing for ecosystem people, which sounds pretty cool and could get traders excited if it gains momentum.
Bottom line? TON's struggling like most altcoins right now, but the setup isn't terrible if you're bullish. The key is holding that $2.87 level and getting volume back. Without those two things, even the smartest analysis won't save it. But if altcoins start catching a bid again, TON might be one to watch for a comeback.
Peter Smith
