Toncoin (TON) is experiencing significant activity in the cryptocurrency market due to a recent sharp price increase. The main catalyst for this rise is news related to Telegram founder Pavel Durov.
Why Is Toncoin Pumping?
The recent price increase of 16% for Toncoin is linked to reports that Telegram founder Pavel Durov has been granted permission to leave France and return to Dubai. This information, confirmed by the news agency AFP, has restored investor confidence in Toncoin.
Crypto analyst Crypto Patel shared on X (formerly Twitter): "Telegram Founder Pavel Durov has officially left France for Dubai with court authorization – AFP."
Toncoin Technical Analysis: Key Levels
Toncoin is consolidating in a key support range between $2.40 and $3.00, forming a strong base. Analysts view the recent rebound without breaking these levels as a bullish signal. If Toncoin can hold above $3.00, further growth towards $5.00 remains likely. However, breaking below the $2.40 level could lead to increased selling pressure.
What’s Next for Toncoin?
The future of Toncoin will depend on several factors, including how Telegram continues integrating TON into its ecosystem and whether trading volume remains strong. If Toncoin continues to show interest and demand, achieving the $5.00 level in the near term seems plausible. In the long term, some analysts speculate that TON could reach $50, depending on further adoption and the connection to Telegram's ecosystem.
The recent surge in Toncoin reflects strong investor confidence and market dynamics. Holding above $3.00 may lead to further gains, while falling below $2.40 could trigger a downturn.
