- A reverse head-and-shoulders breakout positioned TON for a potential move above $5,848
- Market confidence is on the rise, with technical indicators and on-chain metrics in line with the bullish momentum
Toncoins [TON] price The chart revealed a strong bullish setup that captured the crypto market’s attention, supported by both technical and on-chain metrics. At the time of writing, TON was trading at $5,808, having risen 0.35% in the past 24 hours.
However, the question remains whether TON can maintain this momentum and confirm a lasting upward trend on the charts.
Evidence of bullish momentum
The inverse head and shoulders pattern is a widely recognized bullish signal, indicating a possible reversal in TON’s price trajectory. The breakout above the declining trendline further confirmed the positive sentiment – a sign of increasing buying pressure.
However, resistance at $5,848 could pose a significant challenge if buying momentum weakens. Moreover, clearing this level would likely pave the way for stronger price action in the near term.
Source: TradingView
TON’s on-chain signals show steady accumulation
TON’s on-chain metrics offered a bullish outlook. Net network growth was neutral at 0.70%, reflecting stability in network activity. Moreover, the concentration of top holders increased slightly by 0.11% – a sign of continued confidence from the key players.
On the contrary, the 2.01% drop in large transactions highlighted the reduced activity among whales. Nevertheless, steady accumulation by smaller participants seemed to reinforce bullish sentiment for TON.
Source: IntoTheBlock
More room to grow?
At the time of writing, the MVRV ratio stood at 14.16%, reflecting moderate profitability among holders without suggesting an overbought market. This level suggested that TON still has room for further upside before triggering significant sell-offs.
However, maintaining this momentum will require additional buying pressure to overcome the resistance at $5,848. Therefore, market participants should pay close attention to any shifts in sentiment.
Source: Santiment
Technical indicators reinforce optimism
The altcoin’s technical indicators reinforced the bullish outlook for TON. The DMI highlighted strong trend strength, with the -DI at 22.15 and the +DI at 19.82, indicating that sellers are still somewhat active, but buyers are gaining dominance.
The ADX value of 20.39 confirmed that the trend has significant strength behind it.
Additionally, the Stochastic RSI was trading at 86.69, which, while approaching overbought levels, indicated room for upside. Together, these indicators suggested that buyers have increasingly taken control and that TON could make even more gains.
Source: TradingView
Read Toncoin’s [TON] Price forecast 2025–2026
Can TON maintain its bullish trend?
TON’s price action, supported by technical and on-chain signals, indicated that bullish momentum is likely to continue.
A decisive break above USD 5,848 would confirm the uptrend, hinting at the potential for further gains. Therefore, TON appears poised to continue its bullish trajectory in the short term.