Toncoin (TON) saw a sharp rally today following the announcement that a former Visa executive has joined the TON Foundation. The strategic hire sparked a wave of investor enthusiasm, driving a surge in trading volume and pushing prices sharply higher.
Volume Spikes, Price Breaks Out of Range
The market responded decisively, with Toncoin recording an explosive increase in trading activity—nearly 10 times the average hourly volume during peak trading hours. The token broke out of its earlier consolidation phase, establishing firm support between $2.97 and $2.98, while setting a new resistance ceiling at $3.27.
For much of the session, TON traded in a tight consolidation range between $2.97 and $3.04, forming a base before the breakout. Momentum built steadily throughout the day, culminating in a dramatic price spike.
Breakout Moment: High-Speed Rally Catches Market Attention
The most notable price action occurred in a two-minute window between 10:53 and 10:55, when Toncoin soared from $3.18 to $3.29. The move was fueled by a single-minute volume of over 2.1 million TON, nearly 20 times the average volume per minute—signaling intense buyer demand.
Hourly volumes also reflected the bullish sentiment, with consecutive hour spikes of 19.7M and 15.4M TON. These figures underscored the scale of the reaction to the TON Foundation’s latest leadership move.
Though some profit-taking emerged near the session’s end, pulling the price slightly back to $3.27, the overall trend remained decisively bullish, supported by a clear ascending channel and higher lows on the hourly chart.
Technical Overview
- Support Zone: $2.97–$2.98
- Resistance Level: $3.27
- 24h Range: $2.97–$3.29
- Peak Action: $3.18 → $3.29 (10:53–10:55)
- Volume Spikes: 19.7M and 15.4M per hour (10x avg)
- Minute Volume Peak: 2.1M in one minute
- Trend: Ascending channel with strong bullish momentum
Outlook: Toncoin’s latest rally reflects growing investor confidence in the project’s direction, particularly as seasoned executives from traditional finance enter the ecosystem. With technicals showing strength and institutional credibility on the rise, TON could be primed for further gains—provided momentum holds above newly established support.
