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Key Insights:
- Toncoin price eyes a breakout; rounding bottom pattern shows bullish momentum.
- Rising volume signals strong interest; support zone holding firm.
- A break above $4.6 could trigger a 20–30% rapid surge.
Toncoin (TON) price has climbed 20% over the past week, reflecting a strong upward trajectory in the crypto market. TON also experienced a slight boost in the last 24 hours, supported by a broader rally across digital assets.
A notable rounding bottom pattern has emerged on the charts, signaling bullish momentum. Technical indicators reveal that Toncoin price is holding firm above its key moving averages, strengthening the case for a potential breakout.
The price is currently hovering above $3.30, showing signs of resilience around the support zone. Rising trading volumes up 144% to $696.22 million in the past 24 hours highlight growing investor interest.
Much of the recent momentum aligns with the launch of Telegram’s Wallet in the United States. This new feature enables cryptocurrency transactions for Telegram’s 87 million American users, integrating directly with the TON blockchain.
Market analysts suggest that the U.S. debut of Telegram’s crypto wallet could play a significant role in boosting TON adoption. The wallet’s integration marks a strategic step toward mainstream acceptance and broader use of the blockchain.
With technical support intact and positive market sentiment, Toncoin appears poised for a further upward move.
Telegram Launches Crypto Wallet for Americans
Telegram has officially enabled its native crypto wallet, TON Wallet, for users across the United States. It marks a major development as U.S. residents can now send, receive, and manage digital assets within the Telegram app.
The feature includes support of Toncoin, NFTs, and above all USDT, a widely-used dollar-based stablecoin employed in crypto payments around the world.
In 2023, Telegram started experimenting with crypto wallets. The technology was presented in the form of a Telegram Mini App based on the TON blockchain.
The TON blockchain is currently managed by an independent TON Foundation that was originally established by Telegram. In 2024, USDT was introduced to the platform, taking Telegram beyond simply crypto assets to actual dollar-based transfers.
It comes as a self-custodial wallet where the user bears full control of his or her assets without intermediaries, enhancing privacy and accessibility.
Toncoin Price Eyes a Breakout Amid Bullish Momentum
A crypto analyst has pointed out the formation of a possible bullish breakout on Toncoin price. Their technical analysis shows a rounding bottom pattern on the 4-hour chart.
The trend indicates a decline and points to the bullish changes. Should the breakout take place above the resistance zone in the highlight, then it is possible to get a short-term rally of 20-30%.
The analyst also mentioned a gradual increase in the volume. As the price action is supported by volume, there would be a positive bullish trend in the near term.
Will Toncoin Price Break Resistance and Hit $4.00 Soon?
Toncoin price traded at $3.38 after recording a 4% increase over the past 24 hours. It has climbed within an ascending channel and approached a key resistance level of $3.50.
Buyers pushed the price steadily higher from the $2.80 support level earlier this month. It formed a clear bullish pattern on the daily chart.
The Relative Strength Index (RSI) stood at 73.72, indicating that TON had reached the overbought position. This denoted a potential slowdown or reversal in the downward pressure provided there was no buying pressure.
In spite of this, there was a prolonged bullish action of the MACD. The signal line was crossed by the MACD line, and the histogram bars kept increasing, which verified bullish momentum.
Toncoin price faced resistance at $3.50. A break above that could open the door for a retest of the $4.00 mark. On the downside, initial support lay at $3.20. If bears regain control, the next demand zone could be found near $3.00, followed by stronger support at $2.80.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
