TON Price Breakout Imminent? 40% Rally Predicted
Note: This post may contain affiliate links, and we may earn a commission (with No additional cost for you) if you make a purchase via our link. See our disclosure for more info. The crypto world is constantly changing. This content is for informational purposes only and not financial, legal, or professional advice So, please verify the info on the cryptocurrency provider’s websites.
Toncoin (TON), the native token of The Open Network, is showing strong bullish signals, potentially leading to a significant price surge. Recent price action has formed a symmetrical triangle pattern on the 4-hour chart, indicating a period of consolidation before a decisive breakout. This pattern suggests a lack of clear market dominance between buyers and sellers, setting the stage for a substantial price swing—potentially as high as 40% in either direction. Analyst Ali Martinez predicts that a breakout above the upper boundary around $3.28 could propel TON to $4.55-$4.65. Conversely, a breakdown below the lower boundary around $3.10 could see the price drop to $1.80-$1.90. Currently trading around $3.16, TON's relative strength index (RSI) is approaching 50, indicating building bullish momentum. A crossover above 50 would confirm this trend. This positive price action is fueled by recent developments within the Telegram ecosystem, including a significant partnership with xAI, a generative AI company. This collaboration, worth $300 million in cash and equity, along with revenue sharing, is expected to boost TON's adoption and value. Despite a year-on-year loss of nearly 50%, TON maintains a strong market position, ranking as the ninth-largest cryptocurrency with a market cap of $7.79 billion. The combination of technical analysis suggesting a potential breakout and positive fundamental news from Telegram points towards a bullish outlook for TON in the near term.
(Source: https://www.newsbtc.com/toncoin-ton/ton-bullish-pattern-signals-breakout-ahead-40-rally-loading/)
