Hello everyone, I am Panny. It's been a while since I analyzed TON, so today let's take a look at its recent price trends and breakout potential.
Recently, the momentum behind TON also seems to be steadily increasing, preparing to break out of a bullish flag pattern, with on-chain indicators supporting its bullish outlook.
As of the time of writing, the trading price of TON is $5.79. Although it has slightly dropped by 1.21% in the past day, it is starting to reclaim the key resistance level of $5.6.
Recent price trends and breakout potential of TON
TON's price trend shows a clear bullish flag pattern, indicating a consolidation before a potential rise. The resistance level of $5.6 has always been a key threshold, and the recent successful retest of this resistance level has enhanced the likelihood of a breakout.
If TON's closing price breaks this level and holds, the next target would be $7.2.
On-chain indicators show continuous growth in network activity
On-chain data shows that activity on the TON network is continuously increasing. In the past week, the number of new addresses grew by 22.73%, from 167 to 205, while the number of active addresses increased by 14.08%, from 178 to 203.
Additionally, the number of zero-balance addresses surged by 61.7%, increasing from 330 to 534, indicating a large influx of new participants.
These indicators suggest that the adoption of TON is accelerating. However, sustained growth is crucial for maintaining investor confidence and supporting further price increases on the charts.
TON's liquidation data is optimistic
Liquidation trends indicate that trader sentiment is cautious but optimistic. The total amount of short liquidations is $48,300, while the total amount of long liquidations is $615.64, indicating that market participants are still reluctant to heavily utilize long positions.
However, if a breakout above $5.6 is confirmed, it may trigger a series of short liquidations, potentially amplifying upward momentum. Therefore, traders should closely monitor these liquidation levels as key indicators of market changes.
Technical indicators show bullish momentum
Technical indicators support a bullish view on TON. The RSI value is 48.43, indicating neutral momentum but with room for growth. Additionally, the 9-day moving average is $5.80, above the 21-day moving average of $5.58—this is a sign of a favorable trend.
Combined with the flag setup, these indicators seem to suggest that the market is ready for a breakout. However, sustained buying pressure is crucial for maintaining this momentum.
Daily active address divergence reflects strength
The divergence between price and daily active addresses (DAA) brings some additional optimism. In fact, the 231% of DAA aligns very well with TON's price trend of $5.7.
The narrowing of this gap highlights improvements in the fundamentals, indicating that the TON network may become stronger along with its price trends.
TON has favorable conditions for a breakout, with strong technical indicators and increasing on-chain activity. If TON decisively breaks $5.6, it could push the price towards $7.2, confirming the start of a strong rebound.
In short, the outlook for TON remains very bright as it continues to maintain good development momentum.
I am Panny, a long-term coin holding enthusiast. I don't engage in contracts or leverage. I earn coins in a bear market and earn USDT in a bull market. If you are also like this, then welcome to follow Panny!
Let’s traverse the bull and bear markets together, banding together to strive to be a rougher kind of leeks.