Date: Fri, March 28, 2025 | 06:14 AM GMT
After a significant downturn over the past 90 days, Toncoin (TON) has staged a rebound, posting notable weekly gains. This recovery aligns with a slight uptrend in the broader crypto market and recent developments involving Telegram’s founder, Pavel Durov.
Durov, who has long been associated with Toncoin, has officially left France and traveled to Dubai with the approval of French authorities. His departure follows his arrest in August 2024 at Le Bourget Airport near Paris, where he faced legal scrutiny over allegations that Telegram facilitated criminal activity.
Toncoin Bounces to Key MA Resistance
A technical analysis of Toncoin’s weekly chart shows that the price has remained within a long-term ascending channel since the 2021 bull run. However, after facing strong rejection at $8.28 in mid-2024, TON underwent a sharp correction, eventually testing the ascending support level at $2.90.
Following the recent developments, TON has now bounced back to $4.0 range, where it is currently testing the crucial 100-day moving average (100 MA). This level has historically acted as a strong support zone, previously triggering a massive 300% surge in TON’s price.
The MACD (Moving Average Convergence Divergence) indicator is currently attempting a bullish crossover, a signal that often precedes strong upward momentum. If TON successfully breaks above the 5100MA, it could confirm a new uptrend, potentially pushing the price toward the mid-range resistance of the channel, around $5.48.
Final Thought
With TON bouncing from key support, MACD flashing a potential bullish signal, and important resistance levels in sight, the coming weeks could be crucial for Toncoin’s trend direction. If a breakout occurs, it may mark the beginning of a larger uptrend toward higher resistance levels. However, a failure to hold above the 100 MA could lead to further consolidation.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.