Key Insights:
- Toncoin consolidates in a symmetrical triangle, signaling a potential 50% breakout move soon.
- Coinglass data shows minimal liquidations, suggesting stable leverage conditions as TON nears critical levels.
- Open interest and trading volume increase, hinting at growing market participation before TON’s breakout decision.
Toncoin (TON) was trading in a symmetrical triangle pattern, a structure that traders often monitor before large price swings. The token is priced at $3.14 today with a 24-hour trading volume of $121,007,511. Over the last 24 hours, TON slipped by -1%, and in the past week it recorded a small decline of -0.2%.
Since February, the price has moved between converging trendlines, showing narrower swings and reduced volatility.
Market analyst Ali stated,
“Toncoin $TON consolidates in a triangle, awaiting a 50% price move!”
The setup suggests a breakout is drawing closer as the pattern moves toward its apex.
Breakout Levels and Price Targets
The upper breakout level is set near $3.40, while the lower boundary stands at $2.95. A move above $3.40 could confirm an upward breakout, opening the way toward the $4.50–$4.80 range. A decline below $2.95 could trigger a downward move toward $2.10–$2.20, which lines up with the base of the pattern.
The measured move target from the triangle formation points to a possible 50% price shift once the breakout direction is confirmed. At present, TON remains inside the pattern, waiting for a decisive move.
Liquidation Activity and Market Conditions
Data from Coinglass shows that TON’s liquidation levels are stable compared to past months. Current liquidations stand at $1.8K for shorts and $1.79K for longs. This is minimal when placed against earlier spikes that forced larger liquidations on both sides.
The small liquidation totals suggest that traders are not using extreme leverage at this stage. This stability provides space for the triangle setup to continue without immediate stress from margin calls.
Growth in Volume and Open Interest
Recent data indicates steady growth in TON’s derivatives market. Daily trading volume reached $162.68M, an increase of 1%. Open interest rose to $319.53M, up 2%. These figures show that participation in TON futures is expanding, even as price remains compressed within the triangle.
Rising open interest alongside a narrowing price range often points to the potential for a sharp move. Traders are closely watching for a confirmed breakout to establish whether TON moves higher toward the $4.50 area or breaks down toward the $2.20 zone.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/ton-triangle-setup-signals-explosive-50/