Toncoin price targets $15 as Elliott Wave Theory signals the end of correction. Whale accumulation and key resistance breakout hint at a potential 122% rally.

Toncoin Price Targets $15 as Elliott Wave Predicts Correction Phase End

In a recent tweet, market analyst CryptoBullet highlights a potential uptrend in TON according to Elloit wave theory. In the last four months, the Toncoin price witnessed a steady correction from $8.17 to $4.5, registering a 44.4% fall.

The $4.5 horizontal level coincides with an ascending trendline, providing the crypto buyers high area of interest to regain bullish momentum. Amid the U.S. election buzz, the Toncoin price followed the broader market recovery to revert immediately to the $5.4 level.

The renewed recovery now challenges the key downsloping resistance, signaling the buyers’ attempt to escape currency correction. The analyst highlights this breakout could trigger the Toncoin price transition from the 4th wave correction to a 5th wave.

This wave generally indicates the final phase of the current uptrend, where prices reach new highs fueled by optimism and speculative buying. If the wave structure plays out as expected, the analysts predict a 122% rally to $12 high, followed by an extended rally to $18.

Source: Trading View

Whale Accumulation in TON Points to Potential Market Reversal

According to Santiment data, the percentage of total TON supply held by top addresses has surged from 23.5% to 29%. This indicates increased accumulation by large investors or “whales,” which often reflects growing confidence in the asset’s long-term potential and can signal reduced selling pressure in the market. Historically, the accumulation of smart money has resulted in a major market reversal and a renewed uptrend.

Source: Santiment

On the contrary, if the sellers continue to defend the overhead trend, the Toncoin price could witness an accelerated bearish momentum and prolong the prevailing downtrend.

Disclamation: Recommendations, suggestions, views given by the crypto experts. It’s not financial advice. You must do your own research before investing crypto markets. Crypto Wolf is always trying to share valuable news for trading, staking, investing after our own research. Information source trading view, Market cap, Santiment and online media.

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