Toncoin (TON) Price Could Rally to $10: Here's Why

Toncoin (TON) technical indicators point to potential bullish momentum. Analyst Rose Premium Signals highlighted the formation of a second bullish pattern on the weekly chart, signaling the possibility of continued upward movement.

Toncoin (TON) technicals hint at potential bullish momentum. A second bullish pennant formation on the weekly chart is highlighted by analyst Rose Premium Signals, suggesting a possibility of continued upward price movement.

With defined support levels and clear breakout targets, Toncoin's price action indicates a potential for growth. Notably, their accompanying tweet highlights the key levels and the need for strong trading volume to validate this bullish setup.

Toncoin ( $TON): Bullish Setup on 3D Chart 📈

Toncoin is forming its second bullish pennant, signaling a potential continuation of its uptrend. A breakout could see targets of $6.10, $8.00, and $10.00.

Watch for volume confirmation and strong momentum to validate the move.

🎯… pic.twitter.com/OkBEs62NJm

Toncoin’s Technicals Show Bullish Pennant Formation, Suggesting Potential Uptrend

The chart by Rose shows Toncoin forming a second bullish pennant on its weekly chart. Bullish pennants are continuation patterns that typically indicate a resumption of an uptrend.

According to Rose Premium Signals, this setup follows a descending triangle breakout that marked the end of a prolonged consolidation phase.

The key levels identified in the analysis align with the targets shared in the tweet: $6.10 as the initial breakout target, followed by $8.00 and $10.00 as mid-term and long-term objectives.

The Fibonacci extensions and historical resistance zones further support these projections, with $6.995, $8.425, and $9.839 being noteworthy levels on the chart.

Toncoin’s Support Zones Highlighted

The $4.5–$5.0 zone has been a critical support area for Toncoin. This level was tested and validated multiple times, strengthening its role as a structural support.

A dip below $5.00 could potentially invalidate the bullish setup, leading to bearish momentum, as noted by Rose.

Volume confirmation is also highlighted as a key factor for the pennant breakout. A strong surge in trading volume would validate the move, while low volume might indicate a false breakout or extended consolidation.

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Volume, Momentum to Validate Toncoin’s Breakout

Volume and momentum are crucial in confirming Toncoin's next move. The analysis emphasizes the importance of increased trading activity to solidify the bullish breakout from the pennant formation.

Without sufficient volume, the pattern may fail to deliver the projected price movements.

Rose Premium Signals provides detailed targets and emphasizes the role of volume in validating the setup. At the time of writing, TON is trading at $5.39 with a daily trading volume of $347,608,006. Despite a pullback over the last day, the token has generally risen over the week, as indicated by CoinGecko's data.

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