April 16th, 2025— The Toncoin price recorded a slight uptick of 1.23% during the Wednesday market session to reach the $2.89 trading zone. The buying pressure followed U.S. President Donald Trump’s openness to negotiating trade deals with several countries. As the short-term market trend shifts sideways, the TON price shows the formation of a falling wedge pattern signaling an imminent breakout in the near term.
Toncoin Price Primed for 45% Surge Amid Wedge Pattern Breakout
In the first half of April, the cryptocurrency market witnessed a major downturn after Donald Trump announced reciprocal tariffs on 75+ countries. Amid the surge in selling pressure, the Toncoin price faced a significant impact as it lost over 32% of its value within two weeks.
According to CoinGecko data, the TON price traded at $2.89, and its market cap was $7.26 billion on Wednesday.
As Donald Trump is willing to negotiate trade deals with these countries, the correction momentum in most major assets has slowed down. Since last week, the TON price has traded nearly sideways as it resonates with the two converging trendlines of the falling wedge pattern.
The chart setup theoretically provides a temporary pause for the prevailing trend to regain its momentum. As Toncoin nears the apex of this formation, a decisive breakout appears imminent.
A bullish breakout from the overhead trendline will accelerate bullish momentum and bolster an initial recovery in TON. The post-breakout rally could push the asset 45% up to challenge the $4.2 resistance.
On the contrary, if the sellers force a breakdown below the pattern’s support trendline, the price action could witness prolonged correction.
Technical Indicators:
Relative Strength Index: Defying the lower low formation in price, the daily RSI slope shows renewed bullish momentum with fresh highs, reinforcing the potential for a bullish breakout.
Exponential Moving Average: The coin price trading below the crucial EMAs (20, 50, 100, and 200) hints that the short-term trend is bearish.
Also Read: Ethereum Fees Plunge to 5-Year Low — What It Means for ETH Price
