Key Takeaways
- Toncoin is consolidating within a symmetrical triangle, with growing buy-side pressure suggesting a potential breakout above the key $3.51 resistance level.
- Despite declining user activity and a high percentage of unprofitable holders, mid-tier investors are quietly accumulating TON, signaling long-term bullish sentiment.
Toncoin (TON) was trading at $3.16 at press time, consolidating within a symmetrical triangle pattern — a classic formation that signals impending volatility. With resistance looming at $3.51 and $4.12, and support at $2.93, price action has compressed near the apex, setting the stage for a decisive move. Market watchers are now bracing for a potential breakout or breakdown.
Buy-Side Pressure Builds Despite Unconfirmed Breakout
Spot market indicators suggest bulls may be quietly accumulating TON. According to CryptoQuant data, the 90-day Taker Buy CVD shows aggressive buy-side dominance, signaling that traders are lifting offers rather than waiting passively. This pattern often precedes bullish breakouts, as persistent buyer aggression erodes sell-side liquidity.
However, the breakout above the $3.51 resistance level remains unconfirmed. Technical traders are likely waiting for a confluence of volume spikes and strong candle formations before entering long positions. Without this confirmation, TON could continue to range or even resume its broader downtrend.
Investor Accumulation Rises, But On-Chain Headwinds Persist
While investor accumulation has grown by 4.01% over the past 30 days, on-chain data reveals that 68.32% of TON holders remain “out of the money,” suggesting potential selling pressure on any price rally. Interestingly, whales and retail holders have trimmed their positions, while mid-tier investors appear to be positioning for long-term upside.
Meanwhile, user engagement has slumped. Daily active addresses dropped by 38.59%, with new addresses falling 53.13% in the past week. This decline in user activity raises concerns about network momentum, which historically correlates with price rallies.
Also Read: Toncoin (TON) Whales Signal Breakout Ahead
Can the Bulls Break Through?
With Toncoin forming a tightening triangle pattern, surging speculative volume, and growing investor accumulation, the technical setup leans bullish. Yet, bearish risks remain if selling pressure from unprofitable holders and declining user activity aren’t offset by renewed demand.
A confirmed breakout above $3.51 could validate bullish momentum and attract sidelined capital, potentially initiating a new rally. Until then, traders and investors alike remain on alert, waiting for the next decisive move in TON’s volatile journey.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
