Toncoin Price Hovers Near Key Support at $2.80 USD

Toncoin (TON) is currently at a pivotal point, with its price hovering slightly above a key support level. The chart analysis indicates a potential climb towards a resistance level before a possible sharp reversal. This resistance level is crucial as it could determine the next significant move for TON. If the price manages to break through this resistance, it could open the path towards higher targets, potentially reaching $3.00 with an extended target near $3.40, representing a substantial gain from current levels. Conversely, if the price fails to overcome this resistance and falls below the support level, it could lead to a downward trend.

The current market dynamics for TON are tense, with the price at $2.81 USD. The price has shown a slight increase of 0.68% in the last 24 hours, indicating a cautious bullish sentiment. The resistance level at $2.80 is a crucial zone for TON, as breaking above this level could signal a bullish trend, while failing to do so could lead to a reversal. The support level at $2.80 is equally important, as a drop below this level could trigger a sell-off and push the price lower.

The technical analysis of TON suggests that the price is currently in a consolidation phase, with the resistance level at $2.80 acting as a barrier to further gains. The support level at $2.80 is also a critical zone, as a break below this level could lead to a significant decline. The price action around these levels will be crucial in determining the next move for TON. If the price manages to break above the resistance level, it could signal a bullish trend and open the path towards higher targets. Conversely, if the price fails to overcome this resistance and falls below the support level, it could lead to a downward trend.

The market sentiment for TON is currently mixed, with some analysts predicting a bullish trend while others remain cautious. The price action around the resistance and support levels will be crucial in determining the next move for TON. Investors and traders should closely monitor the price action around these levels and be prepared for potential volatility. The resistance level at $2.80 is a critical zone for TON, as breaking above this level could signal a bullish trend, while failing to do so could lead to a reversal. The support level at $2.80 is equally important, as a drop below this level could trigger a sell-off and push the price lower. The price action around these levels will be crucial in determining the next move for TON.

On the 4-hour chart, a clear descending trendline continues to cap TON price. While the token is trading around $2.80 for now, eyes are on the $2.90–$2.96 range where a possible rejection could lead to a bigger drop. TON price has been stuck under this trendline for weeks. Every time the price tries to move higher, it hits this wall and pulls back. The line starts from around $3.00 and extends downward, and it’s been a reliable barrier so far. What makes the current setup interesting is the confluence between the trendline and the $2.90–$2.96 resistance zone. This area has seen several rejections in the past and might be filled with sell orders or liquidity traps. That’s why traders are so focused on it, it could be where the next move starts.

Price action recently found support around $2.78, which gave TON price a small bounce. But the overall chart still shows a series of lower highs and lower lows. That’s a typical downtrend structure, and unless TON flips that pattern, rallies are likely to get sold. For now, TON price is sitting slightly above support, and the chart suggests a possible climb into resistance before reversing sharply. It’s a setup traders call a “fakeout and dump.”

Traders are waiting for clues on lower timeframes. In the tweet, CryptoChiefs said he’s not short yet but is closely watching the trendline. The plan? Wait for weakness to show up on the lower timeframes like the 15-minute or 1-hour charts. He’s looking for signs like bearish divergence on indicators, rejection candles (think long upper wicks), or a breakdown in local support. If any of these show up while TON is testing the resistance zone, that could be the green light for shorts.

The short-term outlook leans bullish as long as TON price grinds up toward $2.90 or higher. But the medium-term view remains cautious. If the token can’t break the trendline with strong volume, that resistance could once again push the price lower. This setup is all about patience and timing. Traders are ready but want confirmation before acting. The next couple of moves around that resistance zone could tell the full story.