The cryptocurrency market experienced a correction at the beginning of the week, followed by a positive trend that led to a 1.89% increase in overall market value. During this movement, Toncoin (TON) stood out with an impressive price increase, rising over 10% in the last 24 hours and up to 25% in the past week. Data reveals that TON's price has surged by more than 185% since the beginning of the year, indicating a positive trend for the technical altcoin.

The recent surge in TON's price was particularly noteworthy as it broke through a significant resistance level that had been limiting trading between $2.00 and $2.77 for six months. This breakout signaled renewed upward momentum in the crypto market, leading to a considerable price increase for TON.

After reaching an all-time high of $7.65 on April 11, TON experienced a sharp increase of 270.16%, followed by a correction of 39.86% that brought the price down to $4.60. Following an investment announcement by Pantera Capital in the Layer-1 project, TON regained momentum and continued its upward trajectory.

Currently, technical indicators such as the Relative Strength Index (RSI) suggest a significant increase in buying pressure in the crypto market, particularly on a daily basis. With an average upward curve evident, there is a positive outlook for TON's price in the short term.

Looking ahead, if TON's price remains above the $6.35 support level, it is likely to test the $7.25 resistance level with support from the bulls. However, if the price fails to maintain this level post-breakout, TON could target the lower support level of $5.50 in a downward trend.

The original post was published on COINTURK NEWS.