An analyst has pointed out how Toncoin (TON) is currently trading inside a Triangle pattern that could potentially set the stage up for a 40% move.
Toncoin Has Been Stuck Inside A Triangle On The Daily Timeframe
In a new post on X, analyst Ali Martinez has talked about a pattern that Toncoin has recently been moving inside. The pattern in question is a Triangle from technical analysis (TA), which forms when an asset’s price observes consolidation between two converging trendlines.
The upper line of the pattern is likely to be a source of resistance in the future, while the lower one is that of support. A breakout of either of these lines can imply a continuation of the trend in that direction.
There are a few different types of Triangles in TA. Three popular ones include the Ascending, Descending, and Symmetrical variations. The orientation of the trendlines relative to each other defines which type a particular triangular channel falls under.
In an Ascending Triangle, t
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