Toncoin Surges After Avoiding 41% Crash, Eyes $6 Breakout

Toncoin (TON) is showing signs of recovery after dodging a potential 41% drop, with traders now focusing on its next target: reclaiming the $6 level. Market indicators and low selling pressure are fueling optimism, as TON holders continue to hold strong.

Toncoin’s technical outlook is flashing bullish signals, with the Moving Average Convergence Divergence (MACD) indicator showing signs of an upward shift. The double-bottom bearish divergence, typically a precursor to price gains, suggests Toncoin could be set for a rally. The MACD histogram also indicates that bearish momentum is fading, signaling a potential bullish crossover soon.

Market sentiment remains stable, with only 16% of active addresses in profit, a sign that selling pressure is low. If this figure stays below 25%, it supports further price recovery, leaving room for Toncoin to climb higher.

Currently trading at $5.62, Toncoin is closing in on the $6.04 level, which is crucial for invalidating the bearish head-and-shoulders pattern that threatened a drop to $2.79. If TON flips $6.04 into support, it could mark the beginning of a sustained upward trend.

Breaking through this resistance could push Toncoin towards $7.09, a key target that would deliver solid profits to investors and potentially attract new buyers. This move could strengthen Toncoin’s bullish outlook in the coming weeks.

However, failure to reclaim $6.04 could trigger a dip to $4.80, with a further slide to $4.29 if this support breaks, putting the current bullish momentum at risk.
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