Exploring Toncoin's Breakout Possibility

A substantial breakout opportunity of 40% for Toncoin (TON) has been unveiled by crypto expert Ali Martinez, foreseeing a target price of $11. Martinez's detailed study, based on an in-depth review of X's charts, presents a robust argument for the potential price movement of TON.

This argument is underpinned by traditional chart formations and Fibonacci retracement levels. The initial chart reveals a classical ascending triangle pattern, a positive indicator particularly within an ascending market.

The target price of $11 is established through the measured move methodology, projecting a 40% upswing from the triangle's resistance level.

In the case of TON, the widest section of the triangle measures at $3.07 (equivalent to 40.03% of the total), suggesting that breaching the breakout point could propel the price towards $11.

Martinez utilizes Fibonacci retracement levels to enhance the precision of the support and resistance levels in TON's performance assessment. This analysis is performed on a dedicated 4-hour chart of TON's performance in a Tether (USDT) perpetual contract on Binance.

The TD Sequential indicator hints at a potential temporary drop, indicating that TON might decline to approximately $7.2, in line with the 23.6% Fibonacci level, before experiencing a significant bullish upsurge. This decline is viewed as a strategic opportunity for investors to enter the market with reduced risk just before the anticipated breakthrough.

It is important to note the increasing buzz around Notcoin (NOT), a cryptocurrency linked to the Toncoin blockchain, which is currently gaining traction in the crypto sphere. NOT is currently trading at $0.0188.