Toncoin Bullish This Week? Check Out Today’s TON Price Analysis

Toncoin (TON) is at a crucial moment in its price journey. The cryptocurrency is holding firm above a key support level of $3.34, with traders closely watching for a breakout past $3.70.

This potential move could signal the start of a strong rally, especially given the current rising channel pattern and recent positive developments like Coinbase Ventures’ investment.

Let’s break down what’s happening with TON, what the latest Bitrue USD1 pair data shows, and what technical signals are suggesting for the days ahead.

If you are interested in crypto trading, explore Bitrue and enhance your experience. Bitrue is dedicated to providing safe, convenient, and diversified services to meet all crypto needs, including trading, investing, purchasing, staking, borrowing, and more.

Key Takeaways

1. Strong support at $3.34 is keeping TON stable and fueling bullish sentiment.

2. Breakout above $3.70 could trigger a rapid rally toward higher resistance zones.

3. Bitrue USD1 pair activity offers traders new ways to access and trade TON efficiently.

TON Price Holds Above $3.34 Support

Toncoin’s ability to remain above $3.34 is a sign of strong buying interest. This level sits at the lower edge of a rising channel pattern, a formation often associated with steady upward trends.

Each time the price has tested this support recently, buyers have stepped in to keep it from slipping lower, showing that traders remain confident in TON’s potential.

At the time of writing, TON is trading around $3.42. This gives bulls some breathing room while they prepare for the bigger challenge: pushing through the $3.70 resistance.

This zone is critical because it marks the upper edge of the channel and has capped price gains several times in the past.

The recent announcement that Coinbase Ventures has invested in Toncoin has added fuel to the bullish outlook.

While the exact amount purchased hasn’t been disclosed, this investment places TON alongside projects backed by other major venture capital firms like Sequoia Capital and Ribbit Capital.

Read Also: Coinbase Becomes TON’s Stakeholder: What Does This Mean?

Such high-profile interest often serves as a vote of confidence in the project’s long-term prospects.

In the short term, technical indicators present a cautiously optimistic picture. The Relative Strength Index (RSI) is at 56, signaling moderate buying momentum without overbought conditions. If volume picks up and the $3.70 barrier is breached, momentum could accelerate quickly.

TON/USD1 Pair on Bitrue

For traders looking to gain exposure to Toncoin in a simple and flexible way, Bitrue’s USD1 pair is worth noting. USD1 is Bitrue’s own stable token, pegged to the US dollar.

The TON/USD1 trading pair allows users to buy and sell Toncoin with minimal slippage, while also benefiting from the stability of USD1 during volatile market swings.

Trading TON with USD1 has a few advantages:

1. Stable pricing thanks to USD1’s dollar peg.

2. Lower conversion costs compared to trading through multiple currency pairs.

3. Quick settlements for traders who want to enter and exit TON positions efficiently.

This pair can be especially useful for those who prefer to avoid fiat deposit delays or who want to keep their funds in a crypto-native stable asset between trades.

By pairing with USD1, traders can also more easily take advantage of sudden market moves without worrying about currency conversion time.

Read Also: Can You Stake tokens to Get a Visa in a Country? Looking at TON

Bitrue’s platform also provides tools like advanced charting, stop-limit orders, and real-time price alerts for the TON/USD1 pair.

This makes it easier for traders to track potential breakouts, especially as TON approaches the $3.70 resistance level.

If TON’s price action confirms a breakout, the TON/USD1 market could see an uptick in activity as traders rush to capture the move.

This makes Bitrue not just a trading venue but also a valuable hub for monitoring real-time sentiment shifts.

TON Price Outlook and Key Levels to Watch

The $3.70 mark is the immediate focus for Toncoin traders. A decisive close above this level could open the door to targets at $4.21 and $4.84, both of which align with previous highs and psychological thresholds.

In a more aggressive rally scenario, analysts suggest TON could even aim for $5.37, provided buying pressure remains strong.

The technical landscape is showing mixed but improving signals. The 50-day and 100-day EMAs are moving toward a bullish crossover, which would confirm short-term recovery momentum.

Meanwhile, the MACD is hovering just below its signal line, indicating that bearish pressure is fading but not entirely gone.

The consolidation between the 100-day and 200-day EMAs is also worth watching. While this range has kept TON’s price contained, it’s building a base that could make any breakout more powerful.

Read Also: Ton Blockchain Outage Fixed! What Happened?

On the flip side, if the price slips below the 50-day EMA at $3.225, the bullish case would weaken, and a retest of the $3.00 level could follow.

Looking further ahead, market forecasts suggest that Toncoin could potentially reach the $9-$12 range by 2025, assuming continued network growth and investor interest. For now, though, the short-term battle is all about the $3.70 breakout.

Conclusion

Toncoin is currently in a balanced but tense position. Strong support at $3.34 and growing investor confidence, especially following Coinbase Ventures’ involvement, are giving bulls a reason to push for higher prices. The $3.70 resistance remains the key hurdle that could trigger a wave of buying if broken.

For traders who want to position themselves ahead of potential moves, Bitrue offers an accessible way to trade TON through its USD1 pair, with stable pricing and fast execution.

As always, staying alert to market signals and managing risk is essential. If you want a platform that combines security, efficiency, and flexibility for your crypto trades, Bitrue is worth exploring for a smoother trading experience.

FAQ

What is Toncoin (TON)?

Toncoin is the native cryptocurrency of The Open Network, a blockchain project initially developed by Telegram and now maintained by the TON Foundation.

Why is the $3.70 level important for TON?

It is a key resistance point that has capped recent rallies. Breaking above it could signal strong bullish momentum.

What is the TON/USD1 pair on Bitrue?

It’s a trading pair that lets users buy and sell Toncoin using USD1, a stable token pegged to the US dollar, for faster and more cost-efficient trades.

How does Coinbase Ventures’ investment impact TON?

It boosts investor confidence by showing that a major crypto-focused investment firm believes in the project’s potential.

What are the risks for TON right now?

If TON fails to hold support levels like $3.34 or $3.225, it could see a pullback toward $3.00, especially if trading volume drops.

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.