Toncoin price holds $3.31 as buyers defend key channel support
Toncoin (TON) is trading around $3.31 as of July 23, showing resilience within a well-defined ascending channel despite minor profit-taking and a recent decline in directional strength. The token rebounded earlier this week from the channel’s lower support zone and continues to hover above the key 20 and 50-EMAs between $3.21 and $3.29.
Highlights
- Toncoin price holds near $3.31 as ascending channel support continues to attract buyers
- Directional indicators show waning momentum, but trend bias remains bullish above $3.21
- Exchange outflows of $3.99M reflect cautious but constructive sentiment in current range
This technical alignment has preserved the bullish undertone, even as attempts to break past the midline near $3.44 met resistance. The structure remains intact with no significant breakdown, though a lower ADX reading near 15.84 signals cooling trend strength. The +DI still leads over -DI on the Directional Movement Index, but the narrowing gap reflects slowing momentum. A decisive move above $3.44 and $3.60 would reestablish bullish drive, while a failure to hold the EMA cluster could prompt a retest of $3.18 or even the 100-EMA near $3.11.
Exchange flows reflect cautious accumulation
On-chain data from July 23 recorded a net outflow of $3.99 million from exchanges, adding to a multi-day sequence of similar movements. These outflows are often interpreted as investors transferring assets to self-custody, reducing immediate selling pressure. However, in the context of stagnant momentum, they could also limit near-term liquidity, leading to choppy price action.
TONUSD price dynamics (Source: TradingView)
Despite these flows, Toncoin has maintained support above the mid-channel zone, indicating steady accumulation rather than mass exits. Unless netflows reverse or price breaks beneath the EMA support cluster, buyers appear willing to defend key zones.What to expect next for TON
If TON closes above $3.44 in the coming sessions, it could extend toward $3.60, with a further push potentially targeting $3.75 to $3.90. This would mark a 12 to 18 percent upside from current levels. However, if price fails to hold above $3.21, short-term consolidation may deepen, testing $3.11 support and briefly weakening the broader trend. Traders are watching for volume spikes or ADX acceleration to confirm directional conviction in either case.
In earlier updates, we highlighted the $3.11–$3.29 zone as a key support cluster. Toncoin continues to respect this region, with recent bounces reinforcing its technical importance. Unless that zone breaks, the structure remains bullish.
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