Currently, Toncoin is attracting traders' attention as a symmetrical triangle is forming on the chart, indicating an upcoming price breakout.
Symmetrical Triangle and Its Significance
The symmetrical triangle on the Toncoin daily chart highlights gradual price compression. Buyers and sellers are narrowing the price range, anticipating a breakout that could occur in either direction.
Toncoin Price Movement Forecast
The current price of Toncoin stands around $3.15, placing it near the midpoint of the triangle. A potential breakout above the resistance level between $3.55 and $3.60 may lead to targets between $4.40 and $5.50. Conversely, a break below support could theoretically see prices drop to $1.10-$1.20.
Volume Influence on Toncoin Price
Traders are closely monitoring volume trends, as a breakout accompanied by increasing volume would validate the move. Until such confirmation is observed, Toncoin remains in consolidation with both bullish and bearish outcomes possible.
The situation surrounding Toncoin continues to engage the cryptocurrency community. The expected price movement and volatility create favorable conditions for market analysis and informed decision-making.
