Key Takeaways:
Toncoin’s token (TON) price increased 25 percent over the past week, rising from a support level of $1.20 to a target of $1.51, based on its trading pair against Tether (USDT).
The 25 percent rally was confirmed after the price hit the $1.51 mark, a target set by technical analysis following the bounce from a key structural support level, according to an analysis posted on TradingView.
This technical breakout could lead to higher trading volumes and increased price volatility as it may attract momentum traders. The move suggests a shift in market structure for the token, which has underperformed larger assets like Bitcoin (BTC) and Ethereum (ETH) in recent weeks.
With the initial price target of $1.51 reached, traders are now watching to see if TON can establish this level as new support. Further consolidation here could set the stage for a move toward the next technical resistance, which analysts place near the $1.75 mark.
This article is for informational purposes only and does not constitute investment advice.
