Published: Mar 22, 2025 at 01:50 AM
Updated: Mar 21, 2025 at 08:36 PM
- Toncoin faces key resistance as buyers attempt a breakout above $3.60.
- Whale accumulation rises, signaling strong investor confidence in long-term price growth.
- A breakout could push Toncoin toward $3.90, while failure may lead to consolidation.
Toncoin — TON, has gained momentum, climbing 3.04% in 24 hours. Trading volume surged 20.83%, showing rising market interest. Pavel Durov’s return to Dubai sparked speculation, bringing renewed attention to the asset. Traders watched closely as Toncoin tested the $3.60 resistance multiple times. Rejections have held prices back, but bullish momentum could lead to a breakout.
Toncoin followed an ascending bullish triangle pattern on the 1-hour chart. The asset traded near $3.567, struggling to break past $3.60. Three breakout attempts failed, leading to short-term price consolidation. A confirmed move above resistance could open a path to $3.90, a strong mid-term target. Technical indicators sent mixed signals. The Relative Strength Index (RSI) held at 58, showing strong buying pressure.
The Moving Average Convergence Divergence (MACD) signaled a “buy,” along with short-to-mid-term moving averages. However, long-term moving averages still pointed to “sell.” The Average Direction Index (ADX) remained neutral, indicating uncertainty. More buying volume is needed for Toncoin to move higher.
On-chain data reflected growing investor interest. Coinglass reported a 10.55% rise in Open Interest, signaling confidence in Toncoin’s future. Funding rates turned positive, showing traders’ willingness to take long positions. Pavel Durov’s leadership and vision for decentralization may be influencing market sentiment.
Toncoin’s network activity increased in the past 48 hours. Active addresses rose 6.75%, while Total Value Locked — TVL, showed steady gains. Meanwhile, IntoTheBlock reported a net exchange outflow of $46.23K. Some traders took profits, but large-scale investors continued accumulating.
Whales appeared to strengthen their positions, pushing trading volume higher. A decisive breakout above $3.60 could drive prices to $3.90. If resistance holds firm, Toncoin may enter a correction phase. Traders should monitor buying pressure and whale activity for further signals.
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