Toncoin Price Breakout – Is $4 the Next Major Target?

The post Toncoin Price Breakout – Is $4 the Next Major Target? appeared first on Coinpedia Fintech News

Toncoin is making waves once again as it continues to sail higher on its price chart. It is worth noting that TON was the sole gainer during yesterday’s slump. Talking about press time numbers, Toncoin price is up 4.94% since yesterday, and 10.38% over the week. 

That being said, TON is not just riding the bullish sentiment, it’s actively creating it. The run is backed by the TON Foundation’s $400M treasury raise. And Telegram’s push to expand blockchain utility for its 900M+ user base. If you are wondering about the next pitstop for TON price, you are at the right place. 

User Activity Holds Steady

As per Santiment, the 7-day active address count on the TON network remains resilient, sitting at 863 as of August 1st. As seen in the chart, address activity has stabilized after a brief dip in late July, reflecting sustained user engagement. 

This metric supports Toncoin’s recent price action and aligns with Telegram’s app integrations. Further indicating that the underlying network demand is not speculative but organically growing alongside the expanding ecosystem.

Toncoin Price Analysis:

TON price today is at $3.676 with a market cap of $8.84 billion. This is while the 24-hour volume stays healthy at $583.89 million despite a minor dip of -2.97%. The price range between a low of $3.36 and a high of $3.71 suggests intraday volatility but with an upward bias.

Technically speaking, TON is trading within an ascending parallel channel. It has bounced off the lower band and is now testing resistance near $3.69, which coincides with the upper trendline. Successively, the breakout above the 23.6% Fibonacci retracement level at 3.44 and the pivot point at $3.53 acted as a key confirmation for momentum traders. 

That being said, the immediate resistance for TON lies at $3.80, and a decisive breakout could propel the token toward the next psychological target of $4. On the downside, immediate support lies at $3.31, followed by a stronger floor at $3.25, which aligns with the midline of the channel and past consolidation zones.

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