Toncoin Breaks Resistance and Surges 27%: Is $9 the Next Target for TON
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- Toncoin surged by over 27% after successfully breaking out of a symmetrical triangle pattern.
- Large leveraged positions in TON are at risk of liquidation at the key levels of $5.85 and $6.32.
Toncoin [TON] has made significant gains, trading 27% above its breakout point from a descending triangle pattern, indicating a potential local peak at $6.32 as it takes a momentary pause.
This escape from a persistent downtrend that previously suppressed its price signifies an essential turnaround in market momentum.
The resistance along the consistently declining trendline, which had formed lower highs over time, flipped bullish as TON broke free, representing an important sentiment shift.
A substantial green candle illustrated intense buying activity during this period, signaling a rapid increase in value and interest.
Source: TradingView.
The price of Toncoin is now testing fresh levels following the breakout. The MACD indicator confirms a bullish crossover – a promising sign for potential further increases.
If TON can maintain its support above current levels and keep increasing, it may soar toward the $9 threshold. This development could attract more traders eager to ride on TON’s emerging bullish trajectory. A crucial question arises: can TON maintain this upward momentum?
Insights on TON’s Liquidation Heatmap.
The performance of the TON/USDT pairs exhibited noteworthy volatility around pivotal thresholds.
Larger leveraged positions near $6.50 face liquidation risks that could steer price movements towards these critical liquidity zones. Specifically, $915,000 and $701,000 pose considerable stakes at liquidating prices of$5.85 and$6.32 respectively . p >
Based on liquidity mapping for this market , these zones may serve either formidable support or resistance depending on trader behavior – be it curbing losses or seizing favorable pricing opportunities.
Source: Coinglass.
This heatmap illustrates dynamic interactions with distinct bands showing concentrations within liquidity areas.The displays imply that if selling pressure escalates,Tonain strives for stability within such ranges while remaining vital for trader strategy effectively participating amidst fluctuating markets.
Profitability Across Active Addresses For Toncoin span > h2 >
Around two-thirds (32 .64%)of all active addresses display profits worth298k confirming optimistic sentiment supporting further upside likely benefiting overallpositive outlook.
Dive into price predictions concerning Toncoin specifically [TON]** rates revealing prospects stretching throughout2024-*25..* P >
Everything seems to point towards387665 holders achieving ”At-the-Money” factor suggesting serious market fluctuations where they might bargain selling off once prices escalate allowing room+profit creation continuing upwardry even beyond9; making liquidity matter important today!
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