A potential 40% breakout for Toncoin (TON) has been discovered by crypto analyst Ali Martinez, with a target price of $11. The study, derived from thorough examination of charts released on X, presents a strong argument for the anticipated price movement of TON.
This argument is supported by traditional chart patterns and Fibonacci retracement levels. The initial graph illustrates a traditional ascending triangle pattern, which is considered a positive indication, especially when it emerges within an upward market trend.
The goal price of $11 is determined by applying the measured move approach, which calculates a 40% gain from the resistance line of the triangle.
Regarding TON, the triangle’s broadest section measures at $3.07 (40.03% of the total), and if the breakout resistance is surpassed, the price may potentially reach $11.
Martinez use Fibonacci retracement levels to enhance the accuracy of support and resistance thresholds in TON’s performance analysis. This study is conducted on a distinct 4-hour chart of TON’s performance in a Tether (USDT) perpetual contract on Binance.
The TD Sequential indicator indicates a possible temporary decline, implying that TON may decrease to approximately $7.2, in line with the 23.6% Fibonacci level, before experiencing a substantial bullish surge. The slump is seen as a strategic opportunity for investors to enter the market at a lesser risk, just before the expected breakthrough.
Note that Notcoin (NOT), which a crypto based on Toncoin blockchain has been the subject of talk in the crypto community and currently pumping. NOT is trading at $0.0188.
