Key Insights:

• The Toncoin cryptocurrency has established significant support at $2.94 to $2.96, then made a notable leap past $3.00, demonstrating resilience post a brief retreat.
• In the last 24 hours, Toncoin’s value increased by 1.5%, underperforming compared to the CoinDesk 20 index, which grew by 3.6%.
• High trading volumes underpin this breakout, forming a new support zone ranging from $3.00 to $3.01.

Toncoin, currently valued at $3.00, has firmly placed support at $2.94-$2.96 before its recent upward movement, exhibiting a strong comeback even after a significant pullback, as noted in CoinDesk’s technical analysis.

The token has risen 1.5% over the past day, though it lags behind the CoinDesk 20 index—a metric tracking the top 20 cryptocurrencies by market cap, excluding stablecoins and memecoins—which climbed by 3.6%.

Technical Analysis Highlights

• Initially formed a solid support level at $2.94-$2.96, followed by a definitive rise above $3.00.
• Strong volume levels (1.87M and 1.54M) facilitated the breakout.
• Following a steep drop to $2.98 with the highest volume recorded (2.97M), buyers swiftly returned.
• A notable consolidation phase has built support at $2.985.
• Significant volume (272,668 units) initiated a breakthrough above $3.00.
• The confirmation of an upward trend is evident with the newly established support zone at $3.00-$3.01.