TON bulls defend Wave 2 support as technicals point toward a $2.25 to $3.50 resistance breakout. What the chart says now.

The selling stopped somewhere around $0.96.

That level, the 61.8% Fibonacci retracement on the daily chart, held. TON is now trading near $2.02, up roughly 3.4% on the day per KuCoin data. Not a breakout. More like a survival.

Bulls Get the Reaction They Were Waiting For

MoreCryptoOnline on X flagged what the chart was showing. The account noted a “good reaction to the wave 2 support zone” and pointed to $2.25 to $3.50 as the next resistance band bulls need to clear.

The chart in question runs on TradingView’s daily timeframe for TON/USDT on KuCoin. It maps a multi-year Elliott Wave structure going back to 2023. Wave 1 formed across 2023 into early 2024.

Toncoin then corrected. Hard.

The retracement dragged price through Fibonacci levels that most traders had circled. The 38.2% mark sat at $1.35. Below that, the 50% level sat near $1.14. The 61.8% came in at $0.96, and the 78.6% further down at $0.75.

What the Chart Is Actually Showing

Price bounced from that lower cluster. In Elliott Wave terms, that bounce confirms Wave 2 ended. It also sets up the case for Wave 3 beginning.

The move was not clean. Nothing about this TON price structure over the past year has been clean. But the reaction from Wave 2 support is what bulls needed to keep the count alive.

The resistance band MoreCryptoOnline flagged runs from $2.25 at the 38.2% projection to $2.81 at the 50% and up to $3.05 at the 61.8%. The $3.50 ceiling rounds out the full zone. Getting through that range would mark Wave 3 as officially underway, at least on paper.

Further Out, the Count Gets Bigger

Beyond $3.50, the chart projects a Wave 3 target region stretching toward $5 to $9. Wave 5 sits further out still, plotted loosely across 2026 and 2027 on the chart. Those levels are not the immediate story.

Right now, $2.25 is the wall.

Whether TON clears it depends on whether volume shows up. The RSI has room. The structure is intact for now. MoreCryptoOnline on X laid the picture out plainly enough: the reaction happened, the support held, and the next objective is overhead.

Whether bulls actually take it is a different question.

Disclaimer: This article reflects technical analysis from the cited source only. It is not financial or investment advice.