The largest CEX in the U.S. is getting on board! Toncoin long positions sentiment is warming up, possibly迎 20% breakthrough pump.

Toncoin (TON) has been consolidating below the 200-day EMA recently, but with Coinbase Ventures announcing an investment, market long positions sentiment has clearly warmed up. Although the short-term price has only slightly rebounded by about 1%, both technical and funding indicators suggest that TON may be brewing a 20% breakthrough pump.

The largest CEX in the United States ignites market confidence

(Source: Coinglass)

The TON Foundation recently announced that a major CEX in the United States has become one of the investors in Toncoin, alongside renowned institutions such as Sequoia Capital, Benchmark, and Ribbit Capital. Although the specific investment amount and the number of tokens have not been disclosed, this move significantly boosts market confidence.

According to CoinGlass data, in the past 24 hours, the long positions ratio based on Taker buy/sell volume increased from 48.71% to 50.43%, indicating that traders' bullish bets are continuing to rise.

Technical Analysis: $3.588 is the key breakout level

(Source: Trading View)

Currently, the TON price is positioned between the 100-day EMA and the 200-day EMA, forming a consolidation pattern.

Upside target: If the daily closing price breaks through the resistance level of 3.588 USD (tested on August 4), it is expected to trigger a breakout trend, with a target aiming at 4.211 USD (the high on April 1), representing a potential increase of about 20%.

Technical Signals:

RSI: 56, rebounding from the middle band, indicating increased buying pressure.

50-day and 100-day EMA: Approaching a golden cross, indicating a potential buy signal.

MACD: Although still below the signal line, the negative momentum is weakening.

Downside Risks and Support Levels

If TON closes below 3.225 USD (50-day EMA), the consolidation structure will be broken, and the price may fall back to the psychological level of 3.000 USD. This will mean that long positions need to rebuild momentum in order to challenge the resistance above again.

Conclusion

With the entry of major CEXs in the United States, the market attention and long positions sentiment for Toncoin have risen simultaneously. If it can break through the key resistance at 3.588 USD, TON is expected to experience a 20% pump, challenging the high point of 4.211 USD. However, if it falls below 3.225 USD, the short-term trend may turn bearish. For traders, the next few trading days will be a critical moment for determining the direction of TON.