Toncoin (TON) price breaks out of a cup and handle pattern, a bullish continuation configuration.
Toncoin price breaks out of a cup and handle pattern, a bullish sign. On-chain data suggests growing activity and interest within the TON’s ecosystem. A daily candlestick close below $6.01 would invalidate the bullish thesis. Toncoin price breaks out of a cup and handle pattern, a bullish continuation configuration. On-chain data indicates a surge in TON's growing activity and interest could propel prices to surge by 24%.
Considering the current market conditions, this outlook is extremely bullish and is unlikely to be achieved. Investors can remain conservative and start booking profits around the 161.8% Fibonacci extension level at $9.61, drawn from a swing high of $7.70 on April 13 to a swing low of $4.60 on May 1. This move would constitute a 24% gain. TON/USDT 1-day chart Additionally, crypto intelligence tracker DefiLlama data shows that TON’s Total Value Locked has increased from $420.
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