NEW YORK, USA – Toncoin (TON) is attracting significant attention in the cryptocurrency market, with analysts pointing towards a potential price breakout following Telegram’s strategic move to enable its native crypto wallet for users across the United States. This development, which integrates directly with the TON blockchain, is poised to dramatically expand Toncoin’s reach and utility among Telegram’s vast American user base.
The digital asset has seen a robust 20% climb over the past week, signaling a strong upward trajectory amidst a broader rally in the crypto sector. The recent activation of Telegram’s TON Wallet for its 87 million American users is seen as a pivotal catalyst, allowing them to seamlessly send, receive, and manage digital assets, including Toncoin, NFTs, and the widely used dollar-pegged stablecoin, USDT, directly within the messaging app. This integration marks a significant leap towards mainstream adoption and broader real-world application for the TON blockchain.
Initially conceived by Telegram, the TON blockchain is now managed by the independent TON Foundation, ensuring its decentralized evolution. The introduction of USDT to the platform in 2024 further diversified its utility beyond native crypto assets, facilitating dollar-based transfers. Crucially, the TON Wallet functions as a self-custodial solution, granting users full control over their assets without intermediaries, thereby enhancing privacy and accessibility—a key appeal in the decentralized finance landscape.
From a technical perspective, Toncoin exhibits strong bullish momentum. A discernible “rounding bottom” pattern has formed on the charts, a classic indicator of a shift from a downtrend to an uptrend. The price is currently maintaining its position above key moving averages, reinforcing the bullish sentiment. Trading volumes have surged by an impressive 144% in the last 24 hours, reaching $696,22 million, underscoring growing investor interest and liquidity.
Currently hovering above the $3,30 support zone, Toncoin is eyeing a critical resistance level at $3,50. Market analysts suggest that a decisive breach above this point could pave the way for a retest of the $4,00 mark. A more significant breakthrough above $4,60 could trigger a rapid surge of 20% to 30%, building on the strong foundation laid by recent gains from the $2,80 support level earlier this month.
While the Relative Strength Index (RSI) at 73,72 indicates that TON is entering overbought territory, suggesting a potential for a temporary slowdown, the prolonged bullish action of the Moving Average Convergence Divergence (MACD) indicator provides a counter-narrative. The MACD line crossing above the signal line, coupled with expanding histogram bars, confirms the sustained bullish momentum.
Should the price face downward pressure, initial support is anticipated at $3,20, followed by stronger demand zones near $3,00 and $2,80. However, the confluence of robust technical indicators, increasing trading volumes, and the impactful strategic expansion of Telegram’s crypto wallet in the US market positions Toncoin for potential significant upward movement in the near term. This strategic integration is not merely a feature addition but a fundamental shift that could redefine how millions interact with digital assets.
