Recently, analysts have identified a key factor that could lead to a 50% price movement for Toncoin—this is derived from a Technical Analysis pattern. In other words, this may indicate that Toncoin is on the eve of a significant move, and everyone is watching closely.

According to content posted by analyst Ali Martinez on platform X, there is an interesting pattern forming in Toncoin's price chart, known as a symmetrical triangle. This pattern occurs when the asset's price consolidates between two gradually converging trend lines. There are several variations of triangles, which can be categorized based on the slope of the trend lines. For example, a triangle with a flat top line and an upward-sloping bottom line is called an ascending triangle. Conversely, a descending triangle has a flat bottom line and a downward-sloping top line. Of course, there is also a type called a symmetrical triangle, where its trend lines approach each other at nearly opposite angles. Martinez points out that Toncoin's price seems to be trapped in this pattern.

In a symmetrical triangle like this, the price will gradually narrow during the consolidation process until it converges at the top of the triangle. Like other consolidation channels in Technical Analysis, the upper line usually acts as resistance, while the lower line serves as support. Once the price breaks through any of these lines, it generally indicates that the trend will continue in that direction. However, unlike the other two types of triangles which tend to favor one direction, the breakout direction of a symmetrical triangle is relatively balanced, with significant possibilities on both sides.

Now let's take a look at the price chart shared by Martinez. Toncoin has been oscillating within this symmetrical triangle for the past few months and is approaching the end of this channel, with the likelihood of a breakout increasing as the price nears the apex of the triangle. The price consolidation of TON is very close, which indicates that a breakout phenomenon may occur in the near future—of course, the direction of the breakout is still undecided.

Analysts predict that once a breakout occurs, Toncoin could see a 50% price movement. Although the symmetrical triangle theoretically has no preferred breakout direction, we must return to the dynamic possibilities that may occur in reality.

Currently, the price of Toncoin has recovered from below $3.04 to $3.11. Next, if TON approaches and tests the lower boundary of the triangle, the tension will be greater. Everyone can pay attention to whether the support will hold or if there will be a downward breakout.

That being said, all of this is based on speculation from Technical Analysis; the market is unpredictable and ever-changing. This content is for reference only and does not constitute any investment advice. Please be sure to make decisions based on the latest information and personal judgment.

What are your thoughts on the movement of Toncoin? Feel free to leave a message and share! 😊🔍