TON coin breaks out of the symmetrical triangle pattern, indicating strong upside potential
Recently, TON coin has successfully broken the long-standing symmetrical triangle consolidation structure. This important technical breakthrough indicates that a bullish market may start in the future. With the significant increase in the number of active addresses in the market, purchasing activity has shown a surge, further enhancing the certainty of the upward trend of TON coins.
Despite the steady pace, TON coin has performed well in the past month, with a cumulative increase of 8.97%, and a modest growth of 0.31% in the past 24 hours. This series of positive signals shows that TON currency is steadily accumulating strength and preparing to face greater market challenges.
Looking to the future, as market expectations gradually heat up, TON currency is expected to hit a new high since August. Since August 14, TON coins have been trading within a symmetrical triangle. This stable trading pattern often indicates upcoming large fluctuations. This breakthrough undoubtedly laid a solid foundation for TON currency to surpass its historical high of $7.26.
It is worth noting that although breakthroughs are usually accompanied by strong momentum, the rising process of TON currency appears to be relatively mild, with the daily increase basically remaining below 1%. This phenomenon may be attributed to the fact that TON coin encountered major resistance near $5.826. However, once this threshold is effectively exceeded, and accompanied by a significant increase in trading volume, the price of TON coins may usher in explosive growth.
In addition, TON currency is also facing a favorable situation of tight supply. Recently, the web traffic of TON coins on exchanges has continued to decline, showing buyers’ strong interest in this asset. This indicator directly reflects the reduced availability of TON coins in the market, meaning that investors are more inclined to hold rather than sell, thus exacerbating the market's shortage of supply.
What is particularly striking is that a whopping 4.7866 million tons of TON coins have been withdrawn from exchanges in the past seven days, which is in sharp contrast to the increase in trading activity and the increase in trader interest. At the same time, data from IntoTheBlock shows that the number of active addresses representing market participants has soared to 4.21 million, showing that the group of TON currency traders is constantly expanding and positive sentiment is growing day by day.
In the current bull market, you still have no direction. You are still cutting meat all day long, buying and selling. Look for me as your main business, so that you can stand at the forefront of the bull market.
