Toncoin Price Nears 2% Breakout to $3.05

Toncoin (TON), the native token of The Open Network, has recently shown signs of renewed bullish momentum after weeks of sideways trading. The token's price has been edging closer to the key $3 resistance level, backed by improving technical indicators such as the Relative Strength Index (RSI) and a bullish Heikin Ashi structure. This has drawn the attention of traders seeking the next significant move in the altcoin market.

According to the daily chart, TON price has been in a consolidation phase between $2.50 and $2.90 for most of June and early July. However, recent price action suggests a potential breakout, with the token closing at $2.989, just above the psychological $2.95–$3.00 resistance zone. The chart is beginning to form a stair-step pattern, indicating accumulating bullish strength, with longer candles and smaller lower wicks hinting at buyer dominance.

The RSI 14 currently stands at 56.84, trending upwards after rebounding from oversold conditions below 40 in late June. This bullish signal suggests that the bulls are in control, and if the RSI crosses 60, it could attract more momentum traders, driving prices further. The positive slope of the RSI above the 14-day average (~45.99) suggests sustainable upside momentum.

Using a Fibonacci extension from the recent swing low ($2.53) to the local high ($3.05), clear upside price targets can be identified. The Fibonacci levels are as follows: Fib 1.0 level at $3.05, Fib 1.618 at $3.57, Fib 2.0 at $3.80, and Fib 2.618 at $4.20. If TON price can close a daily candle above $3.05, it would confirm a breakout and open the path to these Fibonacci extensions. Given that the token is just ~2% away from the breakout point, bulls are circling.

The $2.95–$3.00 zone is now a critical support area. If bulls can maintain momentum above this zone, the base will likely support the next leg up. Volume confirmation would further validate this breakout—currently, we see increasing green candles on Heikin Ashi, which often precede volume surges in trend reversals. Failure to hold $2.95, however, could send TON price back to the $2.80–$2.70 range, forming a false breakout trap. But given the strengthening RSI and Heikin Ashi structure, the risk of breakdown looks low.

Based on current indicators and chart structure, the short-term target for TON price is $3.20 (conservative Fib level), the mid-term target is $3.57 (Fib 1.618 extension), and the longer-term stretch is $4.20 (Fib 2.618). If Toncoin price closes this week above $3.05 with RSI > 60 and follows through with higher highs, $3.57 is highly probable by early August. This move could be amplified by fresh capital entering the altcoin market.

Technically, TON price is on the verge of a breakout after weeks of dull movement. The RSI is rising steadily, candles are flipping bullish on Heikin Ashi, and price is pressing up against key resistance. If you’re a breakout trader, keep eyes on the $3.05 close. For swing traders, a retest of $2.95–$2.98 could be a good entry opportunity, with a stop below $2.85 and a target at $3.57+. If the bullish structure holds, Toncoin price might finally be preparing for its long-awaited breakout leg.