Date: Sat, March 15, 2025 | 02:30 PM GMT
In the cryptocurrency market, within the last hour, the price of Toncoin (TON) has surged over 8% following major updates regarding its founder. This catalyst has sparked hopes of a recovery, especially after TON’s sharp 46% decline over the past 90 days.
Telegram Founder Pavel Durov Leaves France
A recent Cointelegraph report indicates that Pavel Durov, the founder of Telegram who is also associate with Toncoin, has officially left France and traveled to Dubai with the permission of French authorities. This follows his arrest in August 2024 at Le Bourget airport near Paris, where he faced legal proceedings related to allegations that Telegram facilitated criminal activity.
Durov was released on a $6 million bail but was placed under judicial supervision, preventing him from leaving France until at least March 2025. His sudden departure and clearance to travel to Dubai have sparked speculation and renewed interest in Toncoin (TON), which is closely tied to the Telegram ecosystem.
Could This Spark a Recovery?
Toncoin’s weekly chart reveals a clear ascending channel that has been in play since the 2021 bull market. However, after facing strong rejection at $8.28 in mid-2024, the price entered a sharp correction phase, eventually testing the ascending support level at $2.90. Despite the broader market slowdown, Toncoin has managed to hold this crucial support zone.
The latest price surge following the Durov news has strengthened Toncoin’s technical position. TON has reclaimed the $3.30 range after bouncing from the support and has moved above the 150 Moving Average, which is a key trend indicator.
The next critical resistance lies at the 100 Moving Average at $3.91. A confirmed break above the 100 MA could signal the beginning of a strong recovery trend, potentially pushing the price toward $5.00 and beyond. However, failure to hold above the 150 MA could indicate further consolidation before a clear breakout.
Final Thoughts
Toncoin (TON) has seen renewed bullish momentum following news about Telegram’s founder Pavel Durov. While this catalyst has driven an initial pump, the real confirmation of an uptrend will come only if TON reclaims the 100 Moving Average and sustains higher levels.
With market sentiment shifting and key technical levels in play, traders will be closely watching whether TON can maintain its bullish momentum or face another period of consolidation.
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