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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Toncoin Walks A Tightrope At $2.80 As Market Tension Builds – What Next?

Godspower Owie
Godspower Owie
1 day ago
3 mins read
Toncoin

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In a recent post on X, Michael Steinbach highlighted that Toncoin’s current price is at $2.80, which he considers one of the most exciting levels of the year. With momentum building, Steinbach noted that traders everywhere are now asking the same question: Is a breakout finally underway, or is a sharp sell-off just around the corner?

Toncoin Locked In A Narrow Range Between $2.70 And $2.80

Analyzing the daily chart, Michael Steinbach points out that Toncoin has been locked in a tight range between $2.70 as support and $2.80 as resistance for several weeks now. He warns that jumping into the market without a clear plan is a recipe for losses, especially when others are already navigating these well-defined zones with precision.

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Toncoin Heading Toward 40% Breakout, Pattern Could Suggest

3 weeks ago

He highlights the RSI sitting at 39, a relatively weak position. While it’s not yet in oversold territory, Steinbach notes that buyers may be holding off for deeper levels. Back in April, a strong rebound occurred from below 30, making the 30–32 zone a critical area to watch for potential bullish reactions.

In terms of risk, Steinbach warns that a break below the $2.70 support could hand control over to the bears. If that level fails, the next downside targets to watch are $2.50 and, in a worst-case scenario, $2.00. He reminds traders that repeated tests of a support zone tend to weaken it over time, and when it finally cracks, the fallout can come fast.

Whether watching for a breakout or a breakdown, having a plan is essential. Reacting after the crowd moves rarely pays off; it’s the calm, pre-planned decisions that give traders the edge when volatility strikes.

Breakout Or Pullback? Define The Setup Before Entering

In outlining the bullish scenario, the analyst noted that if Toncoin manages to secure a daily close above the $2.80 resistance, momentum could quickly follow through. This breakout could open the path toward $3.00, with an extended target near $3.40, representing a potential 26% gain from current levels. That’s the kind of upside savvy traders prepare for.

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So, what’s the key takeaway? According to the analyst, successful trading doesn’t rely on gut feeling; it requires well-defined triggers. That means either entering on a confirmed breakout above $2.80 with a stop-loss just below, or stepping back and waiting for a pullback that aligns with RSI signals. The focus should always be on minimizing risk while allowing profits room to grow.

As for now, the analyst sees the trend as sideways to slightly bearish. Until the chart sends a crystal-clear signal, the best approach is patience — no FOMO trades, no blind bets, just disciplined setups.

Toncoin
TON trading at $2.8 on the 1D chart | Source: TONUSDT on Tradingview.com
Featured image from Medium, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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