Key Takeaways
- Higher timeframe correction appears complete, signaling potential upward movement.
- Bullish divergence forming on lower timeframes strengthens reversal prospects.
- Falling wedge pattern suggests an imminent breakout, paving the way for a new bullish wave.
Toncoin (TON) has concluded an extended corrective phase and is now positioning itself for a potential impulsive rally.
TON Price Analysis
4-Hour Chart Overview
A textbook WXY correction culminated in March, followed by a smaller ABC corrective wave within a falling wedge pattern. Key observations:
- Support held at the 0.786 Fibonacci retracement ($2.35), a historically strong level.
- Higher low established at $2.80, reinforcing bullish structure.
- RSI divergence suggests weakening downward momentum.
Short-Term Price Prediction (1-Hour Chart)
Toncoin’s recent ABC correction within a descending wedge hints at reversal potential:
- Wave (c) completion near wedge apex may trigger breakout.
- RSI divergence aligns with bullish reversal signals.
Expected impulse move could target:
- $3.88 (immediate resistance)
- $4.12 (key breakout confirmation)
- $4.50–$4.73 (next major resistance zone)
Critical Levels to Monitor
| Level | Significance |
|--------|--------------|
| $2.68 | Major support (break invalidates bullish outlook) |
| $3.88 | Immediate resistance |
| $4.12 | Confirmation level (requires volume-backed breakout) |
FAQs
Is Toncoin’s correction over?
Technical indicators (wedge pattern, RSI divergence, Fib support) suggest the correction may be concluding. A breakout above $4.12 would confirm bullish momentum.
What’s the next target if TON breaks out?
A sustained move beyond $4.12** could propel Toncoin toward **$4.50–$4.73, aligning with the 0.5 Fib retracement from previous highs.
What invalidates this bullish setup?
A drop below $2.68 would indicate further downside, extending the corrective phase.
Disclaimer: This content is for informational purposes only and not financial advice. Always conduct independent research before investing.