Can Toncoin break through $5.31 and reach $7.9?

Current Situation

Toncoin (TON) is testing a key resistance level at $5.31. If it breaks through successfully, it may trigger a strong upward trend. But if the breakout fails, the price may fall back.

Price Action and Analysis

Toncoin's price has increased by 4% in the past 24 hours and is currently trading at $5.31. Although the market is generally positive, only 26% of TON addresses are profitable.

Potential Breakout

Technical analysis shows that if Toncoin breaks through the $5.31 resistance level, it may quickly rise to $6.8 and may eventually reach $7.9.

On-chain Data

Data shows that the supply of Toncoin on exchanges has dropped sharply, while the supply outside exchanges has increased, indicating that buying pressure is rising. However, the holdings of whales have declined, which may be a bearish sign.

Technical Indicators

MACD shows a bullish crossover and Chaikin Money Flow (CMF) is also rising, indicating that the price may rise in the coming days. According to technical analysis, Toncoin may rise to $5.7 first, but then there may be a pullback. If a bearish trend occurs, the price may fall to $3.7.

Summary

Whether Toncoin can break through $5.31 and reach $7.9 depends on whether it can successfully break through the current resistance level. If the breakthrough is successful, a strong rise is expected. But if the breakthrough fails, the price may fall back. Investors should pay attention to market trends and do a good job of risk management. #美国大选如何影响加密产业？ #美国经济软着陆？ #以太坊基金会