Toncoin (TON) Tests $2.87 Support Amid 5% Drop, Eyes $5.30 Target if Holds

Toncoin (TON) remains in a critical phase as traders monitor its ability to hold the $2.87 support level, a key threshold for sustaining its bullish trajectory. At the time of reporting, TON traded at $3.14, down 5% in the past 24 hours, with a seven-day decline of 4% and a daily trading volume of approximately $334 million. Analyst Ali Martinez notes that maintaining $2.87—a level just above the 0.5 Fibonacci retracement—is essential for preserving the broader upward trend [1]. Should this support hold, TON could target $5.30, a price aligned with the 0.786 Fibonacci expansion and a prior supply zone. A breakdown below $2.87, however, would expose the next support at $2.23, according to chart analysis [1].

Technical indicators signal a cooling phase in momentum. The Money Flow Index (MFI) stands at 83.71, indicating overbought conditions, which could trigger near-term consolidation or profit-taking [1]. The Relative Strength Index (RSI) has eased to 62.08, remaining above its 54.48 average but reflecting a slowdown in bullish momentum compared to earlier gains. Traders will watch for renewed buying pressure in the coming days to validate the current structure [1].

Ecosystem developments also play a role in TON’s trajectory. Telegram’s rollout of its TON Wallet to U.S. users—targeting 87 million accounts—has introduced a self-custodial wallet integrated with stablecoin payments and staking features. This marks the first major U.S. messaging platform to embed such functionality, with TOP CEO Andrew Rogozov attributing the expansion to favorable regulatory shifts and Telegram’s large user base [1]. Analysts suggest this could drive adoption, though the impact on price remains contingent on broader market conditions.

The path to $5.30 hinges on volume recovery and sustained buyer participation. While the current support at $2.87 is intact, a rebound above $3.30 could unlock resistance zones at $3.57–$3.60 and the psychological $4.00 level [1]. However, risks persist, including potential offloading by large holders and external factors like regulatory changes, which were not detailed in the provided data but are inherent to crypto markets [1].

Sources:

[1] [Toncoin (TON) Price Prediction Could Hit $5.30 Despite Recent 5% Drop](https://thetradable.com/crypto/toncoin-ton-price-prediction-could-hit-530-despite-recent-5-drop-3)

[2] [Toncoin (TON) Price Prediction: Holding $2.87 Support, Is a Rally to $5.30 Next?](https://thetradable.com/crypto/toncoin-ton-price-prediction-holding-287-support-is-a-rally-to-530-next-ig)

[3] [Top Altcoins To Buy Today: XRP, SOL, BONK, HYPE, TRX...](https://coinpedia.org/price-analysis/top-altcoins-to-buy-today-xrp-sol-bonk-hype-trx-ens-and-ton-lead-the-altseason-surge/)