With the Bitcoin halving just hours away, the altcoin market is witnessing a resurgence of bullish sentiment. Despite Bitcoin holding steady at $62,000 levels, Toncoin (TON) continues to exhibit an upward trajectory against the backdrop of increasing supply inflows.

Anticipated Surge for Toncoin

As Toncoin maintains its higher low formation and solid support trendline, investors anticipate a significant surge in the altcoin's value. The ongoing recovery rally hints at a potential breakout event, with projections suggesting Toncoin could reach the $10 mark by the end of the month.

Breakout Rally Unfolds

Toncoin has experienced an impressive 180% surge over the last 45 days, fueling optimism among investors. The establishment of a robust support trendline, evident in multiple reversal contacts on the 4-hour chart, underscores the growing demand for Toncoin. Despite broader market corrections, the altcoin demonstrates resilience, with buyers willing to pay a premium for its potential.

The recent bounce back from the support trendline signals a minor pullback due to supply inflows above the $7 mark. This reversal has piqued the interest of sidelined investors, drawing attention to Toncoin's breakout entry opportunity.

Technical Indicators

Technical indicators further support Toncoin's bullish outlook. The bullish trend observed in the 50 and 200 Exponential Moving Averages (EMA) on the 4-hour chart provides dynamic support for the altcoin. Additionally, the Relative Strength Index (RSI) slope, rebounding from the oversold zone to near the 70% barrier, indicates a surge in bullish momentum.

Prospects of Reaching $10

With the Bitcoin halving expected to improve overall market sentiment, Toncoin is poised for a high-momentum uptrend. The altcoin's breakthrough of short-term resistance trendlines suggests another surge is imminent. According to trend-based Fibonacci levels, the uptrend could propel Toncoin to the $9 mark at the 2.618 Fib level.

Optimistically, the combination of the breakout rally and broader market recovery may propel Toncoin towards the psychological milestone of $10, representing a significant milestone for investors and the altcoin community alike.

As the Bitcoin halving unfolds and market dynamics evolve, Toncoin's trajectory will be closely monitored by investors, offering insights into the broader altcoin market's performance in the coming weeks.