Toncoin’s price jumped a lot today, becoming the biggest riser in crypto. It’s now at $3.44, up over 16% in just 24 hours. Trading has exploded too; volume is up more than 455%, showing many more people are buying and selling.
This all happened after news about Telegram’s founder, Pavel Durov. AFP reported that French authorities are letting Durov go back to Dubai after they arrested him. This news sent TON’s price up about 20%, highlighting how closely linked Telegram and its cryptocurrency are.
Top analyst Crypto Patel highlighted the event on X, stating, “Telegram Founder Pavel Durov has officially left France for Dubai with court authorization – AFP.” He also noted that TON’s price rebounded from the $2.50 support level, suggesting a strong technical setup.
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TON Technical Analysis: Key Levels to Watch
Looking at Toncoin’s price movements, things look good for the long run. The price has been holding steady between $2.40 and $3.00, which seems to be a solid floor. It dropped back to test this level after breaking through earlier, but didn’t fall below it – a positive sign. Experts now see this price range as a good opportunity for investors who want to hold TON for a long time.
Looking up, $5.00 is the next important barrier. If prices break above this, we could see more upward movement, possibly setting up higher targets. The chart shows TON might move in waves over the next few years, with some traders thinking $50 could be reached eventually.
Toncoin Market Sentiment and Future Outlook
The market’s quick reaction to Pavel Durov’s situation shows that how investors feel affects TON’s price. The big jump in trading shows more people are getting involved, and traders are watching resistance levels carefully.
While TON looks to be heading up, it needs to stay above $5.00 for a bigger breakout. If prices remain above $2.40-$3.00, we can expect more growth, but dropping below might mean prices could fall further.
Market participants will likely watch fundamental updates from Telegram and further price action near key levels to determine the token’s next direction.
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