Toncoin Price Breaks Out Above $3.20—Is a Surge Toward $3.50 Now Imminent?

Toncoin pushed past the $3.20 resistance on June 5, reigniting bullish momentum and signaling a potential short-term rally. This upward movement ends a prolonged consolidation phase between $3.00 and $3.20 that lasted through late May.

As seen in data from TradingView, the token managed to rise above a declining trend that stopped its upward movement since mid-May. The price action was also assisted by a solid rising trendline placed around the May 27 low. Such a pattern is commonly known as a bullish breakout and is often followed by an extended upward trend.

Momentum indicators show that the trend is likely to continue, as a 30-minute RSI reading of 60 suggests the asset has not yet completed its climb. It is worth noting that the MACD histogram is showing as green which means buyers are now in control.

Crossing above the zero line, the 4-hour MACD lines are a sign that short-term sentiment has changed. Although the Stochastic RSI is a bit overbought, the way the market is trading now suggests that buyers are still active.

Also Read: Panic for XRP Holders? Key $2 Level Could Break Any Moment Now

$3.30 Resistance Zone Now Key to Toncoin’s Next Major Price Move

On the 4-hour chart, Bollinger Bands are expanding and price is trading above all major exponential moving averages. This includes the 20, 50, 100, and 200 EMAs, reinforcing the bullish tone in the market. The middle Bollinger Band at $3.17 now acts as dynamic support.

Pricing remains high above the Kijun-Sen and Tenkan-Sen in the Ichimoku Cloud on the 30-minute chart. The cloud’s leading span A is now positioned above span B, while an upward twist in the cloud suggests continued momentum.

At this time, immediate opposition can be found in the $3.28–$3.30 area, which coordinates with a 0.382 Fibonacci retracement level that can trigger an important turn in the trend. If Toncoin finishes the day above this level with strength, the price might soon push to $3.50 and then $3.77.

The support is set at $3.17 for the moment, with the next key barrier seen at $3.00. Should the price fall under these levels, the mood in the market could become bearish again and push the token toward $2.85 or $2.75.

Right now, what’s driving the breakout is good momentum and a rise in optimism among altcoins. Nevertheless, the amount of trading is not excessive, so more evidence is needed from ongoing trades and the clearance of the existing resistance zone.

Also Read: 10,000 XRP May Soon Cost $1M as Expert Warns Investors Time Is Running Out

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