Toncoin Bulls Mount Defense at $3.30: 740 Million TON Creates Fortress-Like Support Wall
Despite the volatility in the cryptocurrency market as a whole, Toncoin (TON) is holding its own and trading solidly at $3.30.
Quick overview
- Toncoin (TON) is currently trading at $3.30, supported by a significant accumulation of 740 million tokens across 1.21 million unique wallets.
- The cryptocurrency is forming a symmetrical triangle pattern, which could lead to a potential 40% breakout, although the direction remains uncertain.
- Toncoin's market position has improved, recently surpassing Shiba Inu and aiming for a top-15 ranking, which could attract more institutional interest.
- With 90% of holders currently profitable, selling pressure is expected to remain low, reducing the likelihood of significant downward movements.
Despite the volatility in the cryptocurrency market as a whole, Toncoin (TON) is holding its own and trading solidly at $3.30. This stability is due to an unusual accumulation pattern that has captured the attention of both technical experts and institutional watchers. Nearly three-quarters of a billion tokens make up what looks like an unbreakable support structure.
Record-Breaking TON Wallet Concentration Points to Strategic Accumulation
The most interesting thing about Toncoin’s recent price changes isn’t what’s happening on the surface; it’s what’s going underneath that is so unusual. According to the data, 1.21 million unique wallets have together gathered exactly 740 million TON tokens at the important price level of $3.24. This is one of the greatest concentrated support zones ever recorded in the cryptocurrency market.
This accumulation pattern goes against how the market generally works, when big positions are spread out over many price levels to reduce their effect on the market. The data, on the other hand, shows that TON holders are working together, with more than one million wallets forming a single line of defense. This amount of concentrated ownership usually shows that the holders have a great belief in the asset’s long-term potential, since they are reluctant to sell their positions at a loss.
This buildup has a huge effect on people’s minds. Because so many people are holding TON at a certain price point, it would be very hard to get it below $3.24. This is because holders have shown that they are committed to the project and are willing to sell.
TON/USD Technical Analysis: Symmetrical Triangle Formation with 40% Breakout Potential
From a technical point of view, Toncoin is now trading in a symmetrical triangle pattern on the daily period. This pattern usually comes before big price changes. Ali Martinez, a technical expert, thinks this pattern could lead to a 40% breakout, although it’s not certain which way it will go.
The triangular pattern illustrates trendlines that are coming together and have been holding TON’s price movement for a few months. The upper resistance line has stopped upward rises several times, while the lower support line has always attracted buyers. The chances of a big breakout go up a lot when the pattern gets closer to its peak.
TON is currently trading at $3.30, which is a comfortable 6 cents above the important $3.24 support zone. This stance shows that the cryptocurrency has found its footing above the huge accumulation level, even though it has been under a lot of pressure lately. The trading volume of $785.66 million in the last 24 hours, which is only down 0.64%, shows that the urge to sell is still controllable and not based on panic.
Market Position Strengthens as TON Eyes Top-15 Ranking
In the last few months, Toncoin’s market position has improved a lot. The cryptocurrency was able to overtake Shiba Inu (SHIB) after a 15% rise that was sparked by rumors of a possible Telegram-Grok cooperation. This action moved TON up to 16th place in the global cryptocurrency market cap rankings. Stellar (XLM) is now in its sights for the 15th spot.
It’s not just about prestige that increasing market cap rankings is important. Higher rankings usually mean more attention from institutions, more listings on exchanges, and more interest from regular investors. TON could see more acceptance and integration potential if it breaks into the top 15, especially as it is linked to Telegram’s huge user base.
Holder Profitability Suggests Limited Downside Risk
One of the best things about TON’s current situation is how profitable it is for its investors. Data shows that 889.87 million TON tokens worth $2.93 billion are currently “In The Money,” which means that 90.26% of all holders are making money. At the moment, just 95.46 million TON tokens, worth $314.32 million, are underwater.
This distribution of profits is very important for figuring out how prices might change. When 90% of holders are making money, selling pressure usually stays low since investors don’t have as much reason to sell their investments. On the other hand, the tiny number of underwater holdings means that there is less chance of capitulation, which means that any downward moves are more likely to attract buyers than sellers.
Toncoin Price Prediction: Multiple Scenarios Based on Technical Breakout
Based on the current technical setup and fundamental factors, several price scenarios emerge for Toncoin:
- Bullish Scenario (Probability: 45%): A decisive break above the triangle’s upper resistance could trigger the anticipated 40% move, potentially pushing TON toward $4.60-$4.80. This scenario would likely be accompanied by increased volume and could coincide with positive developments in the Telegram ecosystem.
- Consolidation Scenario (Probability: 35%): TON may continue trading within the current range, using the $3.24 support level as a base for gradual accumulation. This sideways movement could persist until a clear catalyst emerges.
- Bearish Scenario (Probability: 20%): A break below the massive $3.24 support zone would likely trigger a more significant correction, potentially targeting the $2.80-$3.00 range. However, the substantial accumulation at current levels makes this scenario less probable.
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