Can Toncoin (TON) soon break the key resistance, the next target is $3.5?

Toncoin (TON) is attempting to recover in price as it attempts to break out of downward pressure and retest new levels. The on-chain and technical indicators of this asset indicate the possibility of an upcoming bull run as TON records new rally.

In particular, some performance indicators are at positive levels. These signals boost expectations of an imminent bull run.

Giá** TON forecast of upcoming price increase

According to market data, TON price is currently trading at $2.95, up 2.14% over the past 24 hours. This is a significant increase, especially as the total crypto market capitalization is down 2.2% in the same time period.

Toncoin price rallied from a low of $2.79 in early trades and surpassed the $3 resistance level, thanks to a buying frenzy by retail investors. However, the coin quickly corrected thereafter, pulling the price back to current levels.

However, this recovery has ignited investor confidence, believing that Toncoin can retest higher prices. Accordingly, many are aiming for a price of $3.50.

Interestingly, on the first day of April, TON was trading around $4 before starting to plunge soon after. The price has found support at $2.70 and now looks set to reach new highs as the broader market consolidates.

Market experts remain optimistic that TON price may break out and reach $3.50 if the project receives strong support from the community and investors.

Whale activity soars when TON towards $3.5

According to a recent update from Santiment, Toncoin whales could be the trigger for the current bull run. In particular, this on-chain market analysis platform has just pointed out the top 10 crypto projects with the biggest increase in whale trading.

Source: SantimentOver the past 30 days, TON whale activity ranked fifth in high-volume transactions. This number is only behind prominent names such as GateToken (GT), USDC, LEO, and LINK.

A 100% increase in TON whale trading suggests that large investors are accumulating as the market gradually re-establishes stability. Typically, spikes in whale activity usually lead to an increase in the price of most altcoins on the market. Some argue that whales have a deeper understanding of market dynamics and often sense the upcoming bull run before other investors.

In the last 24 hours, whales in the ecosystem have traded 923.21 million TON. According to data from IntoTheBlock, this figure reached 1.82 billion TON within the last 7 days.

In addition to whale activity, recent developments in the ecosystem are likely to support the bull run. Specifically, Paykassa.pro, a digital business payment processing platform, has added TON to its list of coins.

Starting from May 4, users can receive and process payments in TON on the platform. Paykassa.pro strategic expansion adds options for businesses looking for secure, reliable and cost-effective payment methods. These businesses mainly operate in the areas of exchanges, fundraising, and e-gaming ecosystems.

Bullish forecast technical indicators **TON **

With such developments, analysts have made forecasts on the TON price outlook. For example, Darco said with current technical indicators, Toncoin could continue rising to $3.25.

Some remain optimistic that the TON price will reach $3.50 and retest the April 2025 opening price of $4.

Well-known analyst Ali Martinez also shares optimism. He pointed out that TON's TD Sequential indicator has signaled "buy" and the price is likely to recover.

Source: AliIt is worth noting that the TD Sequential indicator is often used to detect asset reversals and new bullish cycles.

If the current price structure continues, Toncoin could soon regain the $3.5 level. Businesses that are rapidly adopting TON will enhance the utility of this coin. Despite the general pressure from the market, TON is still fighting those trends.

Disclaimer:*** The article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions

Minh Anh