Can TON break out of the consolidation zone? This opportunity is not simple
TON has been a bit 'quiet' lately, but if you really think it's lying flat, then you're greatly mistaken. Since last December, the price of TON has been consolidating in a symmetrical triangle, but the underlying DeFi ecosystem has quietly gained momentum with the support of the Telegram community.
Don't forget, this coin is backed by Telegram, a massive traffic pool, with total locked value exceeding $150 million, stablecoin market capitalization over $1 billion, and Telegram Gifts and NFT transactions skyrocketing, with daily trading volume reaching $1.8 million. This isn't just about hype; it's about building a solid foundation.
However, the market has recently corrected, with TON dropping nearly 4% in the last 24 hours, now at $3.09, and a total drop of about 4% over the past two weeks. But from a chart perspective, support above $2.50 remains strong, and the daily triangle pattern still exists.
If TON breaks through the upper boundary, technically there is at least a 47% upside potential. The longer this consolidation lasts, the more intense the breakout will be.
So the question arises: will you wait for a breakout to chase, or do you dare to get in now for an early advantage?
