• Toncoin's price experienced a drop to $5.20 initially but quickly recovered, emphasizing the need to surpass $8.00 for further growth.
• Outperforming Bitcoin, Toncoin maintained a level above $7.00, with a possible 10% increase that could push it to $8.00.
• The price trend of $TON follows an upward channel pattern, indicating continued positive market sentiment.
• Despite temporary declines below the channel on April 12th and 13th, strong buying activity near the support line swiftly reversed the downward trend.
• The rise in Toncoin's price aligns with speculation regarding Telegram's potential IPO, reflecting a favorable market outlook.
• This speculation could lead to a rally towards the $7.50 resistance level, and a breakout might drive prices towards $10.
• Conversely, according to Coingabbar Price Prediction, failure to overcome resistance above and a drop below $5.70 could result in a downward trend potentially reaching $5.

KEY LEVELS:

RESISTANCE LEVEL: $7.70-$9.00

SUPPORT LEVEL: $6.20-$5.00

Disclaimer: The analysis and insights provided by Coingabbar on cryptocurrencies, NFTs, or similar decentralized investments are for informational purposes only and not financial advice. Users are encouraged to conduct their research, exercise judgment, and understand the risks involved in financial instruments. Coingabbar holds no responsibility for any financial losses. Cryptocurrency and NFT markets are highly volatile; users should seek advice from financial professionals and evaluate their risk tolerance before making investments.