[Toncoin’s Bullish Breakout: Can $8.30 Target Be Reached? 】
Toncoin’s breakout sparked bullish momentum, with traders eyeing $6.03 and $8.30 targets, supported by strong technical and on-chain indicators.
Toncoin’s breakout from a bullish flag pattern marks an important technical milestone and signals a potential upward trend. The breakout has been confirmed by a successful retest of the lower boundary of the flag, which now acts as support for rising prices.
The first significant resistance level currently stands at $6.03, which has been a key obstacle to Toncoin’s previous price upside. A successful move above $6.03 would pave the way for higher price targets such as $8.30, consistent with previous historical price action and Fibonacci retracement levels.
On the other hand, if it fails to break through $6.03, Toncoin may pull back to the support area between $5.00 and $4.50, and traders need to pay close attention to subsequent price changes to deal with potential risks.
