Toncoin Price Outlook: TON Is Gearing Up for a Bullish Breakout

Key Takeaways:

• Analysts forecast Toncoin could rise to $7.43 and potentially revisit its all-time high of $8.24.
• Another expert suggests a target of $11 based on Elliott Wave principles and Fibonacci extensions.
• Key resistance levels to break through are $6.50 to $8.00 for reaching higher price targets.

The Toncoin price is gearing up for a big breakout after bouncing off the $4.515 support zone, which is a key spot where traders usually start to accumulate.

Recently, Toncoin (TON) has been stuck in a consolidation phase for about a month, dropping 16.20% without any major moves. For the last month, it’s been hanging between $6.4 and $4.8, currently at $5.23.

However, it did show a bit of a positive shift in the last 24 hours, going up by 0.91% and climbing from a low of $4.99 to a high of $5.32. This bump comes as the whole crypto market saw a slight rebound, with the global market cap increasing by 0.23%.

From this level, Toncoin seems poised for a nice price jump in the next few weeks, possibly hitting $7.430 before aiming for that all-time high of $8.24 again.

Analyst Sees Signs of Bullish Momentum in Toncoin Price

A crypto trader, “@hatuancp,” has shared a price chart for Toncoin (TON) and predicts it is approaching the support level of $4.515. This level is crucial because it often serves as a point where traders buy more of the coin.

💰 #TON $TON

Toncoin is approaching the $4.515 support zone, which aligns with key accumulation levels 🧐
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A potential bounce from this area could lead to a bullish reversal targeting:
🎯 $7.430

This setup indicates a solid opportunity for buyers as TON consolidates before its… pic.twitter.com/vVYZ1DYvFi

— BTC ETF (@hatuancp) January 14, 2025

The trader describes this support area as a “solid opportunity” for buyers. When prices stabilize at this level, it usually means that selling pressure is low and that a price increase may happen soon.

This Toncoin price level is crucial for buyers considering entering the market, as they expect a possible price rise. The analysis hints that if the price bounces back, it could target $7.430, meaning a significant increase.

Additionally, the chart indicates a possible double-bottom pattern, which is another sign of a bullish reversal in technical analysis. The projections show that the price may rebound from $4.515 and continue to rise.

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If the Toncoin price rises from its current level to the predicted price, it would need to increase by about 42.03%. This level of growth is possible within a few days or weeks, suggesting that this forecast could become valid.

Other experts also predict a price increase for Toncoin, with some believing it could go beyond $10 soon.

Targeting $11 for TON

Another crypto analyst, “@Michael_EWpro,” shared an analysis of the TON/USDT trading pair using Elliott Wave principles. This method uses wave patterns to predict price changes in the market, helping traders understand the overall sentiment.

The analyst used indicators, Fibonacci retracement levels, and volume profiles to forecast price movements.

The chart points to a potential price target of $11 for TON, based on the 1.272 Fibonacci extension level. This target comes from a bullish Elliott Wave structure, where the Y-wave signals the final upward movement.

$TON / $USDT pic.twitter.com/Yx8WZ7zOuN

— BigMike7335 (@Michael_EWpro) January 11, 2025

If the TON price can break through key resistance levels at $6.50 to $8.00, it may rally to $11. This aligns with common wave extensions and Fibonacci calculations. The volume profile shows low liquidity above $8.00, which could lead to a quick price increase as long as there's strong buying interest and positive market feelings.

However, for this optimistic scenario to happen, TON needs to maintain its upward momentum and push past resistance levels. If it gets rejected around $6.50 to $8.00, the chance of reaching the $11 target may fade.

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