- Toncoin is retesting the $2.50–$2.80 support zone, historically known for triggering significant price rallies.
- Despite being in a descending channel, slowing momentum near key support raises hopes for a bullish reversal.
- A confirmed bounce at $2.50–$2.80 could break Toncoin’s downtrend, leading to a potential breakout and market recovery.
Toncoin (TON) is currently testing a historically important support area between $2.50 and $2.80, which has initiated big moves in the past. This level of support is closely watched by traders, and their past responses have led to explosive upward movements. The price is now testing whether this zone can once more ignite the price surge.
TON remains within a descending price channel, indicating that it still has bearish pressure. However, concerns of slowing momentum around this large demand zone are making some market watchmen hopeful. If the position stays up, it either reverses the current downtrend or reveals a door to a breakout. A powerful pull from this level should indicate an uptrend shift.
Toncoin Bullish Reversal Potential
The $2.50–$2.80 zone has been surprisingly strong support for TON. Whenever the price has gone down to this point, it has caused significant rallies. Investors are hoping to see if history will repeat itself again with the possibility of an explosive breakout. The fact that price action is in its bearish phase as of now suggests that, if the support zone actually holds, such a reaction is possible.
Source: X
According to analysts, confirmation of a bullish reversal is important. This would be an indication that Toncoin is ready to break free from its current downtrend, as it would make a strong bounce from this critical support. If this happens, a penetration of the descending channel may happen and push the price higher in a recovery. Such a decision would mark the stance toward more positive sentiment of the market for the Toncoin.
Descending Channel Pressure
Despite being below a descending channel, the diminishing momentums close to important support lines indicate a shift change in direction. If the support zone is strong enough to stop the downtrend, it might provoke the buying action. From this higher interest, Toncoin’s price may rise, and it may even trigger a strong rally. As of press time, TON is trading at $3.12, showing a 3.66% increase over the past day.
Source: TradingView
Toncoin’s test of the $2.50–2.80 zone acts as a crucial point for the cryptocurrency. A confirmed bullish reversal would be able to break out of the descending channel and then cause a recovery. The investors are closely following the prices of the Toncoin to see if it is pointing to a price that suggests Toncoin is willing to move higher.
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