Despite a slight dip, TON’s fundamentals and technical setup point to a potential breakout toward $3.80. Toncoin is currently trading at $3.56, down 1.3% over the past 24 hours. Still, the token remains up 3.6% on the week and 30% over the past month, reflecting growing strength in both its price structure and ecosystem fundamentals. TON has managed to hold a healthy range between $3.20 and $3.70, showing resilience despite minor intraday fluctuations.
This price action comes as investor confidence in the Toncoin ecosystem strengthens. According to Coinglass, open interest has jumped 28% to reach $13.61 million, indicating that traders are increasingly holding their positions in anticipation of a larger move. Meanwhile, 24-hour trading volume climbed 3.3% to $324.8 million. While derivatives volume declined by 10.5% to $263.4 million, the rise in open interest suggests that bullish conviction is rising.
Ecosystem growth and technicals point to a sustained bullish outlook
Activity on the Toncoin blockchain has also accelerated. Data from DefiLlama shows that weekly decentralized exchange volumes increased from $54 million in the week ending July 20 to $82 million last week. Chain fees also climbed from $98,758 to $124,112, reflecting a notable uptick in user engagement. Stablecoin inflows have been another key driver of momentum, with TON’s stablecoin market cap growing from $600 million in mid-July to just under $800 million at the time of writing.
Fundamental developments continue to support the rally. On August 1, Binance Wallet introduced TON staking via its Earn feature, offering users access to a $300,000 reward pool. Just a week earlier, the TON Foundation and Kingsway Capital launched a $400 million fundraising effort to build a treasury for Toncoin, positioning it as a high-liquidity, treasury-grade digital asset.
From a technical perspective, TON remains bullish. The 10-day EMA and SMA are currently providing support near $3.45, while the RSI at 67.4 suggests strong momentum with limited signs of exhaustion. The Bollinger Bands indicate price action near the upper band at $3.62, and the MACD continues to flash a bullish signal. If TON closes above this range, $3.80 becomes the next immediate target. However, with the commodity channel index in the sell zone at 125.6, a short-term cooldown toward the 20-day EMA near $3.33 remains a possibility if bulls fail to sustain momentum.
Source:TradingView
Toncoin is currently testing the upper Bollinger Band near $3.62, with strong support forming around $3.33. The daily RSI stands at 67.47, reflecting strong bullish momentum just below overbought levels. Price action remains comfortably above the 20-day SMA, indicating sustained upward pressure. A confirmed breakout above $3.62 could open the door toward the $3.80–$4.00 range. However, if buyers lose steam, a retest of the $3.33 support level could occur in the short term.