While most holders are still in the red, TON’s chart is flashing green.
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Key Takeaways
Toncoin could be nearing a major breakout as the TON Foundation and Kingsway Capital aim to raise $400 million.
Despite 88% of holders being underwater, support at $2.31 shows strong buyer conviction, with little resistance.
TON trades within an ascending channel, and if the resistance at $3.77 breaks, the price could rally toward $5.50.
Toncoin (TON) price could be on the verge of its biggest breakout in months. This comes after the TON Foundation revealed plans to raise at least $400 million for a crypto treasury firm, which would hold TON as a core asset.
Although the news dropped yesterday, Toncoin’s price is still hovering above $3, locked in a tight consolidation.
Still, the chart tells a different story. Technical signals suggest a major move could be brewing — and it’s pointing up.
TON Treasury Whispers Grow
According to Bloomberg, the TON Foundation is teaming up with London-based Kingsway Capital to raise the $400 million. While the identity of the treasury firm remains under wraps, one detail is clear: it will hold Toncoin (TON) as a key asset.
That alone has traders watching closely — because when big money steps in and locks up supply, a breakout usually follows.
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“TON Foundation and Kingsway Capital Partners are seeking to raise at least $400 million for a so-called crypto treasury company that would hold Toncoin,” The report revealed.
However, it is important to note that neither the TON Foundation nor Kingsway Capital has publicly confirmed the fundraising reports. So far, CCN’s efforts to reach either party have been in vain amid Toncoin price consolidation.
Low Resistance, High Stakes
Despite the bullish headlines, most TON holders are still deep in the red. According to on-chain data, 88% of holders are underwater, with only 9% sitting on unrealized profits.
However, the Global In/Out of the Money (GIOM) suggests that TON’s price still has room to run.IntoTheBlock data shows a strong support zone around $2.31, where 6.75 million addresses scooped up 3.51 billion TON.
That’s a serious demand cluster — and it far outweighs the volume held between $3.19 and $5.13, where potential sellers are thinner.
In short, no sell wall is standing in the way. If bullish momentum intensifies, Toncoin’s price could break higher with limited resistance ahead.
TON Price Eyes Channel Top
From a technical perspective, Toncoin’s price is trading in an ascending channel, a structure that typically signals a sustained uptrend with healthy pullbacks.
As long as TON continues to respect the channel’s lower trendline and buyers defend key support zones, the setup favors a move higher. The Money Flow Index (MFI) has risen to 68.63, indicating that bulls are putting pressure on the altcoin.
Should this trend remain the same, TON’s price will likely break the resistance at $3.77. Once that happens and the Awesome Oscillator (AO) moves to the positive region, the altcoin’s next target could be $5.50.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
