Toncoin (TON) is attracting traders' attention as its price approaches a key resistance level. Currently priced at $3.89, TON has risen by 1.5% in the last 24 hours.
Toncoin Price Action and Technical Setup
On the weekly chart, TON is trading just below the resistance range of $4.15 to $4.50. This area aligns with a descending trendline that has acted as resistance since mid-2024. If TON breaks above this range, analysts foresee a potential mid-term rally to the $7.00–$10.00 range. The current structure mirrors a previous breakout and retest pattern that led to a sharp move upward in early 2024. Toncoin's long-term accumulation range is between $2.50 and $3.50, where buyers have previously built a solid base for further bullish momentum.
TON On-Chain Data and Ecosystem Growth
On X, on-chain analyst Hitesh Malviya notes that TON's daily active wallets have reached approximately 130,000, while the total number exceeds 41 million. Despite limited growth in traditional metrics, the ecosystem is expanding through monetization layers integrated within the Telegram platform. Initiatives include NFT marketplaces, a usernames trading system, and games that reward users. New features like trading Telegram stickers aim to increase user engagement.
Toncoin Opportunities and Outlook
While the broader crypto market shows mixed signals, TON price is forming an uptrend, which may attract both retail and institutional attention. The next few sessions could determine whether the token can sustain its momentum and break past the current overhead resistance or retest previous support levels.
Investors are watching Toncoin closely as it approaches a key technical point that could determine its future price action.
