Peter Smith
Toncoin (TON) continues to show signs of strength as it maintains a key support level above $2.87. Market participants are watching closely to see whether the current consolidation will lead to a breakout toward the next resistance near $5.30. The technical setup appears bullish, supported by long-term trend lines and Fibonacci retracement levels.
TON Price Holds Above Key Support Zone
As of the latest weekly close, Toncoin (TON) is trading at $3.2842, with a weekly high of $3.5912 and a low of $3.1983. The price remains above the 0.5 Fibonacci retracement level at $2.8748, which is considered a crucial support for preserving the bullish market structure.
The ascending channel shown on the chart suggests that buyers are stepping in at higher lows, reinforcing upward momentum. As long as TON stays above the $2.87 level, the bullish structure remains intact.
Upside Targets: $5.30 and Beyond
If TON maintains its upward trajectory, the next significant resistance lies at the $5.30 mark, corresponding to the 0.786 Fibonacci level. A successful breakout beyond that level could lead to renewed interest and a potential move toward $8.28, the recent high from 2024.
Further Fibonacci extensions show possible long-term targets at $14.72 (1.272 Fib) and $19.88 (1.414 Fib), though these would require sustained momentum and broader market support.
Peter Smith
