The Open Network's native token, TON, has settled around $2.30 after a 5.27% decline, with large holders — known as whales — positioning themselves for a potential breakout. Data from on-chain trackers shows unusually strong whale accumulation over the past week, even as retail selling pressure pushed the token lower.
Whale activity picks up
Whale wallets have been increasing their TON holdings during the dip, according to blockchain data. The trend suggests institutional or high-net-worth investors see the current price as a buying opportunity. While the 5.27% drop shook out some short-term traders, the whales appear to be betting on a recovery. Their positioning often signals where smart money expects the next move.
The $2.58 resistance line
For TON to break higher, it first needs to push through the $2.58 resistance level. That's roughly 12% above current prices. The token has tested that area twice in the last month and failed both times. If whales keep accumulating and volume picks up, a third attempt could succeed.
A break above $2.58 would open the door to what analysts following the charts describe as a 40% rally — targeting $3.20 — within two to three weeks. That kind of move would require sustained buying and a shift in market sentiment, but the whale buildup gives it a foundation.
What happens next
The short-term fate of TON hinges on whether the token can reclaim $2.58. The next few days of trading will be critical. If whales continue to hold and accumulate, the resistance might crack. If they start distributing, the consolidation could turn into another leg down.
Investors are watching the order books for signs of large sell orders near $2.58 that could cap the rally. For now, the token sits quietly at $2.30 — waiting.
