TON Breakout Signals Bullish Trend: Key Levels to Watch for Potential Gains

• TON’s breakout from a descending triangle near a demand zone suggests potential for a strong bullish move.
• The $3.40–$3.60 zone is crucial for confirming an uptrend, with targets reaching as high as $5+.
• Traders should set a stop-loss at $3.15 to protect against risks if the demand zone fails to support the price.

Rose Premium Signals highlighted that Tonecoin (TON) has just recently been trading beneath a descending triangle pattern. A potential breakout area that is close to a steeply ascending trendline has it as the price currently sits only slightly above a demand level. This indicates that, if this demand zone holds, TON may find its way bouncing. Trading now indicates that there is a possibility of the prices rising towards other resistance levels.

TON Bullish Trend Confirmation

From this perspective, the $3.40-$3.60 price level can be considered significant in confirming an uptrend. This price level is likely to create some sort of bottom for traders, given a strong reversal in this range. If TON sustains above this zone, a very rapid move to the $5+ could be expected. However, the price action has to stay above this level in order for the trend to remain intact.

The first projection for TON is $4.64 for next year, the second projection is $5.31 and the third projection is $5.92 for the following year. These levels are potential buy targets for traders who would like to exploit the breakout. It might experience a very volatile client movement in the one way if the market view is also much positive and the demand region is capable enough to support it.

For risk management traders should consider placing their stop loss below the demand zone at 3.15. This stop-loss would help to prevent significant losses in case the demand zone cannot support the price. Such highs should be used to set a stop-loss and open a position for a possibility of higher gains.

Bullish Pressure Mounting

Specifically, TON’s departure from the descending triangle pattern may mean that bullish pressure is mounting for the cryptocurrency. However, the ability of the price to maintain its position above the demand area suggests that the cryptocurrency is likely to experience a massive spike upwards in the near future. The market will be cautious to establish a $3.40–$3.60 position before targeting further upswing. As of press time, TON is trading at $3.55, showing a 12.50% decline over the past day.

Source: TradingView

Assuming such current price action and key levels, TON is now rather appealing for trading. As long as the demand zone holds, the way towards those prices could go relatively fast. In the following days, TON could make a big move towards achieving its objectives and putting itself for further upside.