Toncoin (Ton) has climbed more than 50% in the past week, already -fueled by News Telegram founder Pavel Durov was given permission to leave France for Dubai.
Ton/USDT Weekly Price chart. Source: Tradingview
Reversal of tons of tons, especially after falling to $ 2.35, its lowest levels of one year, have entrepreneurs looking at price levels, including Crypto analyst Crypto Patel Highlighting A “great entry zone” for long -term investors.
Tonne is looking at a 100% rally in 2025
As the Crypto Patel’s note, Ton’s price “perfectly boasted” from its support level of around $ 2.50.
In addition, the support fell within a $ 2.40-3.00 area that served as a resistance to December 2022-April 2023 and September 2023-April 2024 period. The analyst argues that the area is now served as a “great entry zone,” citing Ton’s ongoing rebound from the same range.
Ton/USDT Weekly Price chart. Source: TradingView/Crypto Patel
A decisive rebound from the $ 2.40-3.00 zone can target its tonic existing trend resistance in the coming weeks, which could push its price to $ 5 in June or July.
Related: Wallet on Telegram to list 50 tokens and launch yield program
The reversed view is aligned with the analyst The fall of the Wedge of Wedge of Mind MindThat expects the Toncoin price to grow towards the $ 6 reversed target if it breaks above the upper wedge.
Ton/USDT Sun -Small Price Price. Source: Tradingview
Falling wedges are usually resolved when the price breaks above the upper trend and increases as the number of maximum pattern height.
Analyst Crypto Billion Further looking forward to a bullish reversal in Ton Markets, citing oversold Relative Strength Index (RSI) as a major catalyst for potential long-term accumulation.
Source: Billion of crypto
On March 16, the 180 -day average ratio dropped below -25, as indicated in blue. Previously, Ton had undergone bullish returns mainly when the ratio of Sharpe turned blue, as seen in late 2022 and mid 2023.
Ton Sharpe ratio (180 days). Source: cryptoquant
Tons shorts remain dominant
In the derivatives market, toncoin witnessed to a Resurrection to its open interest (oi) – a measure of monitoring the total number of non -failed ton contracts such as options and futures.
On March 16, TON’s OI was around $ 169.12 million, compared to $ 80.75 million just five days ago.
Ton futures’ oi and funding rates. Source: Coinglass
On the flip side, the weekly TON funding rates tread around the negative territory -marginally they rise to positive territory after falling to -0.678% earlier on March 16.
When funding rates are negative as the OI rises, it often reflects the bearish sentiment with aggressive rotation. The 30-day monitoring of the ton ton/USDT map at Bybit threatened nearly $ 10 million in long prevention if the Toncoin price dropped to $ 2.54.
Bybit Ton/USDT 30-day extermination. Source: Coinglass
By contrast, the same destroying map shows that approximately $ 12 million worth of short positions may be at risk if the TON is more than $ 4 marks.
If this situation performs, the impact of cascading of forced purchases may accelerate Toncoin’s upward momentum, sending the price to the above levels.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
