[Toncoin (TON) price rise to $6.85 will make most holders profitable]
Toncoin’s price could extend its gains and challenge the monthly high resistance of $7.07 as demand increases and trader optimism rises. This level has served as a key resistance and support level many times in the past, and a breakout could have a significant impact on a portfolio.
According to the Global Profit and Loss Indicator (GIOM), investors purchased 803 million TON between $6.16 and $6.85. Currently trading at $6.52, it’s near the upper end of the range, and a breakout would net more than $5.2 billion worth of supply, sparking further demand and price increases.
Funding rates turned positive for the first time in two weeks, indicating that market sentiment has turned optimistic, and long contracts have begun to dominate the market, signaling an upcoming bullish trend.
If TON breaks the $7.07 resistance, the price could rise to $7.53 and potentially challenge the all-time high of $8.28. However, if it fails to break out, Toncoin may consolidate between the $7.07 resistance and $6.43 support, extending investors’ wait for profits.
