Consolidation Ends As Toncoin (TON) Eyes Breakout Beyond Resistance Levels
Consolidation Ends As Toncoin (TON) Eyes Breakout Beyond Resistance Levels Toncoin (TON) traded within a well-defined range, consolidating between $5.00 and $6.00. The chart displayed a downward trendline, suggesting bearish pressure. A breakout occurred above $6.00, creating a higher high near $7.00 before reversing. This fake breakout was followed by a price hike, but resistance zone at $7.00 limited further gains. TON price action then entered a range zone between $6.00 and $6.50. Subsequently, a sell-off brought prices to a bottom near $4.77, testing a critical support level. Consolidation followed, forming a support zone between $4.77 and $5.00, with the price bouncing off these levels multiple times. Toncoin’s consolidation indicated indecision as momentum built within the range. TON/USDT 4-hour chart | Source: Lingrid Forex/X TONUSDT’s movements suggested a buildup of energy, akin to a coiled spring, ready to release. Testing both sides of the range hinted at potential volatility ahead. A breakout above the downward trendline around $6.20 would signal bullish continuation. Conversely, a drop below $4.77 could trigger further declines. Current patterns reflected neutral momentum, awaiting a decisive move. The resistance zone near $7.00 remained a key target for bulls. Toncoin 90-Day Return Indicates Possible 65% Rally Historically, positive reversals in TON’s price movements alongside its 90-day percentage return preceded bull rallies. On August 30, 2023, TON rose from $1.72 with a 65% rally over 70 days. Similarly, February 28, 2024, saw a reversal at $2.17, leading to a 258% surge in 43 days. By November 23, 2024, another positive shift occurred at $5.45, driving a 32% return in 11 days. Currently, the metric turned positive just 7 days ago. Past patterns suggest potential for a 65% rise in approximately 43 days. TON’s price, near $2, aligns with the early phases of prior trends. TON 90-day percent return | Source: CryptoQuant The green histogram marked positive returns, while red shows declines, confirming cyclical behavior. Toncoin’s volatility remained subdued in mid-2023, spiking later in 2024 during key rallies. This repeated pattern could indicate another upward move. If history repeats, TON would likely rally significantly, following consistent metrics-driven trends. Top 15 Chains by Total Value Locked Growth in 2024 Insights showing the top 15 public chains by TVL growth in 2024 saw SEI lead the ranking with a 5210% increase, outperforming major chains like SUI and TON. SUI ranked fifth, recording a 1210% growth. TON secured the 13th position with a 617% rise, maintaining significant momentum despite competition. Bahamut followed SEI closely with a 3014% growth, while Bitcoin increased by 2110%. Other notable chains include Aptos, which recorded a 796% rise, and Base, which achieved 607% growth. Top 15 chains by TVL growth in 2024 | Source: X The TVL growth reflected varying adoption rates and technological advancements within the blockchain sector. SEI, with $620M in TVL, dominated the chart in absolute growth, setting a benchmark for other chains. SUI recorded $502M in TVL, while TON showed consistent development with $500M locked. This data could suggest a continuation of growth trends among these chains, including Toncoin in 2025 if current adoption rates persist.