Toncoin (TON) Price Finally Escapes Its Downtrend – Here’s What Could Happen Next

Toncoin price has finally made the move traders have been waiting for. After weeks of moving sideways, TON has broken out of its downtrend and is trading at around $3.19, slightly up on the day. The charts are starting to look bullish, and traders are holding their breath to find out what occurs next.

If you look at the daily and 4H chart, you can see where the breakout is happening. TON price has been locked inside a descending trendline for months, but now it’s finally pushing above it.

Image Source: TradingView.com

The 4-hour chart highlights a clear break of structure (BOS), with the price reclaiming the $3.12 area and holding above the 50-period EMA. Momentum is building, and the short-term structure is now tilted toward the upside.

On the daily chart, TON price has managed to print a clean move past the long downtrend line that started back in spring. This is the kind of signal that often precedes bigger runs, as it suggests sellers are losing control and buyers are stepping in.

Image Source: TradingView.com Indicators Backing the Move

Momentum indicators are starting to confirm the shift. The RSI on the 4-hour chart is climbing near 64, showing bullish pressure without being overheated. This leaves room for a continued push higher.

The MACD on the daily chart is also turning positive after being weak for so long. A bullish cross here is often an indication of the start of a stronger trend, and traders will be waiting to see if it will hold over the next few sessions.

Read Also: Cardano (ADA) Looks Ready for More Upside, Says Michaël van de Poppe

TON Price Key Levels to Watch

$3.12 is now the key near-term support. As long as TON remains above this level, the breakout remains good. To the upside, the first target is in the $3.50 region, with a more extended move to the $4.00 region if momentum continues.

If bulls really take charge, the next key resistance is in the region of the $4.50 area, which is the area of previous highs earlier this year.

Toncoin Price Outlook

With the downtrend broken and indicators turning bullish, TON looks set for a more active September. A stable above $3.12 can open the way for a run-up to $3.50 and even $4.00.

Of course, a quick rejection is always possible, especially if Bitcoin is volatile, but the overall structure suggests that Toncoin price finally has the chance to trend higher after months of pressure. Traders will be watching closely to see if this breakout is the start of something bigger.

Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.

The post Toncoin (TON) Price Finally Escapes Its Downtrend – Here’s What Could Happen Next appeared first on CaptainAltcoin.