Cryptocurrency TON can update the historical record of value before the collapse by 40%

Cryptocurrency market analyst Ali Martinez said that Toncoin TON $1.08 Tokamak Network -2.78% Market capitalization $56.81 million VOL. 24 hours $27.47 million is currently inside a triangular formation on the daily timeframe, which may signal a significant price movement. According to technical analysis, if this pattern is broken, TON could rise or fall by 40%.

The chart shows that TON is consolidating between two converging trend lines, forming a «symmetrical triangle» — a type of formation where the price narrows to an «apex» or vanishing point. Although this pattern usually has an equal probability of an upward or downward breakout, the slight downward slope in this case can slightly increase the probability of a downward breakout.

At the time of publication, TON is trading at around $ 3.3, up more than 2% over the past seven days. If the price breaks out of the upward pattern, it could lead to a 40% increase. On the other hand, a downward breakout could trigger a similarly sized decline.

Thus, the coming days will be crucial for the further movement of Toncoin, as the market can react with both growth and a potential correction.