- Toncoin nears $1.705 resistance after steady gains since its Coinbase debut.
- Short-term imbalance near $1.57 may trigger minor correction before further upward movement.
- Long positions dominate, signaling potential breakout if momentum sustains.
Toncoin — TON, has maintained a steady climb since its Coinbase debut, capturing investor attention. The token’s price now nears a key resistance at $1.705, a level that previously limited gains. Momentum remains strong, but short-term volatility has increased as buyers approach this ceiling. Traders and analysts are watching closely to see if Toncoin can push past this barrier, potentially unlocking further upside or facing a temporary pause.
Short-term Imbalance Raises Caution
On the daily chart, Toncoin shows a market imbalance around $1.57. This zone could act as a temporary pullback target if momentum slows. Traders should watch this level, as short-term corrections often allow the market to absorb recent gains. Stochastic RSI readings reinforce the potential for a pause. The indicator has entered overbought territory, signaling that a short-term consolidation may be due.
This does not indicate weakness but suggests that the market is processing its recent surge. A brief dip or sideways movement could prepare Toncoin for the next leg higher. Despite these technical signals, bullish sentiment remains strong. Derivatives data shows Open Interest climbing 7.27 percent to 103 million. This increase reflects continued interest from institutional investors and traders, who are opening long positions rather than exiting the market.
Long positions currently outnumber short positions by nearly three times. At press time, the Long/Short Ratio stood at 2.976, highlighting that traders expect further gains rather than a sharp downturn. The dominance of long positions signals confidence in Toncoin’s ongoing rally.
Can Toncoin Break Through Resistance?
Looking at the broader picture, Toncoin’s trajectory depends on its ability to surpass $1.705. This level represents a strong supply zone, and a decisive move above could shift market structure significantly. Breaking past this ceiling may unlock additional momentum and lead to a prolonged rally. Short-term fluctuations are still possible near the imbalance zone, and minor pullbacks should be expected.
However, the overall trend remains bullish as long as long positions remain active. Open Interest continues to rise, showing that investors are confident and willing to maintain exposure during consolidation periods. If Toncoin successfully breaches $1.705, traders may target higher resistance levels, and the token could continue building on its recent growth.
Momentum indicators suggest buyers remain in control, and structural support near $1.57 may help sustain the upward push.Toncoin’s next moves will depend on market reaction at this critical level. Sustained interest from long-position traders combined with rising Open Interest could propel the token higher. For now, cautious optimism is warranted, as short-term pauses may offer traders an opportunity to enter before a potential breakout.
