Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Toncoin (TON) Bounces to Key MA Resistance — Could a Breakout Confirm an Uptrend?

Toncoin (TON) Bounces to Key MA Resistance — Could a Breakout Confirm an Uptrend?

CoinsProbeCoinsProbe2025/03/28 07:33
By:Nilesh Hembade

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.

Toncoin (TON) Bounces to Key MA Resistance — Could a Breakout Confirm an Uptrend? image 0 Source: Coinmarketcap

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.

Toncoin (TON) Weekly Chart/Coinsprobe (Source: Tradingview)

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.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

The Final Chapter After Seven Years: Why Did the Fall of DappRadar Shake the Entire Web3?

The well-known decentralized application data platform DappRadar has announced the cessation of operations due to financial unsustainability and issues with its business model. The price of its token, RADAR, has plummeted, and the decline in the GameFi and NFT industries has led to a sharp decrease in revenue. Summary generated by Mars AI This summary was generated by the Mars AI model; the accuracy and completeness of its content are still being iteratively improved.

MarsBit2025/11/18 16:12
The Final Chapter After Seven Years: Why Did the Fall of DappRadar Shake the Entire Web3?