Toncoin Price Analysis: The Bulls Target $6.73 as Bitcoin (BTC) Reclaims the $100K Level

Toncoin has been on a downturn amid the broader market crash. However, its 4-hour chart reveals a local resistance trendline dominating the market

Toncoin (TON) price is aiming to breach a crucial resistance trendline following a double-bottom pattern formation.

Altcoin crypto prices today saw Toncoin traders eyeing a potential breakout from a falling wedge pattern on the 4-hour chart. This bullish technical formation emerged as TON price action encountered a local resistance trendline.

The bulls are aiming for a breakout from this pattern, which could propel Toncoin price towards the $6.73 level. However, on-chain metrics indicate an incoming supply wave.

Toncoin price today is trading at $4.93, up by nearly 1.50% over the past 24 hours. Meanwhile, TON crypto has soared by over 6.50% across the past week.

Toncoin price faces resistance at $5.20

Toncoin crypto price is aiming to breach a crucial resistance trendline following a double-bottom pattern formation on the 4-hour chart. This bullish technical formation emerged as TON price action encountered a local resistance trendline.

The bulls are aiming for a breakout from this pattern, which could propel Toncoin price towards the $6.73 level. However, on-chain metrics indicate an incoming supply wave.

Toncoin price is displaying a bullish bias on the 4-hour chart, with the bulls attempting to push the price above a resistance trendline. This move is part of a broader falling wedge pattern, with converging support and resistance trendlines.

The neckline of this pattern is placed around the 23.6% Fibonacci level near the $5 mark. A breakout from this pattern could trigger a bullish rally towards higher Fibonacci levels.

Toncoin price has remained above a crucial support zone at $4.77, which has now offered two pattern reversals in the past two days. This hints at a potential double-bottom reversal, which could bolster bullish sentiment.

Moreover, the 4-hour relative strength index also showcases a positive divergence between the two bottoms.

On the downside, the Santiment feed revealed that a massive 240,000 Toncoin were transferred to exchanges over the past week. This metric could hint at increased selling pressure.

Toncoin price could be aiming for the 78.6% Fibonacci level at $5.72 with an upside breakout from the falling wedge pattern. Any further bullish momentum could push TON price towards the 1.618% Fibonacci level at $6.73.

How high can Bitcoin (BTC) go?

Bitcoin price slipped into a consolidation phase after trading near its all-time high (ATH) on January 24. This breakout occurred from a wedge pattern that formed during Bitcoin’s price action in November, ranging between $106,000 and support around $92,000. Analysts shared their predictions for BTC price value change in 2025.

Markus Thielen, head of research at 10x Research, shared a Bitcoin price analysis that reveals how the flagship crypto could be set to retest its wedge breakout after bouncing from the $98,000 to above the $107,000 level.

Following the approval of spot Bitcoin ETFs, BTC price has shown a pattern of advancing in $16,000 to $18,000 increments. Despite the recent market crash, Bitcoin has shown resilience in comparison to traditional stock markets.

Moreover, its quick recovery is instilling confidence in its upward trajectory. Notably, Bitcoin price could extend its bullish sentiment beyond the immediate price target. If the current pattern holds, BTC price could trade significantly above the $122,000 level without establishing new support.

Technical indicators also align with this projection, as Bitcoin has formed a cup-and-handle pattern on its weekly time frame chart, which supports the upward trajectory. Additionally, the dominance of institutional inflows to ETFs is likely to support BTC performance, and it could see it reach the $200,000 level by the end of 2025.

Remittix unlocks new opportunities with over 219% price rally

The Remittix (RTX) project is set to launch a PayFi platform, aiming to revolutionize the digital asset transfer process into fiat accounts. This initiative will position Remittix as a central hub for businesses and crypto users around the globe.

As a decentralized finance (DeFi) crypto project, Remittix will offer maximum anonymity, allowing users to send crypto assets to fiat accounts with concealed identities and no hidden transaction charges.

Moreover, as the economy continues to evolve, businesses are seeking innovative payment solutions that cater to the needs of global customers. One of Remittix’s standout features is its ability to provide advanced solutions for enterprises, simplifying transactions and reducing costs.

The Remittix Pay API is a feature that enables businesses to accept crypto payments as a reliable