TON Coin (Toncoin) Investors Note a Massive Jump as the Price Surged 18% to $5.42 This Week

Telegram coin Toncoin recently witnessed a significant 18% rise in its price, reaching $5.42 this week. The surge follows Telegram CEO Pavel Durov

Telegram coin Toncoin enjoyed a remarkable 18% price surge this week, reaching $5.42. The surge follows Telegram CEO breaking his silence last week regarding his arrest in France.

This sparked renewed interest in the cryptocurrency, with several key indicators pointing to a continuing bullish trend for Toncoin.

Here are some crucial observations from the investors regarding Toncoin’s price action:

1. Surging Addresses:

The total number of addresses holding a balance in Toncoin surged by 64% since the beginning of September, jumping from 37.13 million to 60.92 million. This contrasts sharply with the 20% increase seen in August, where the total addresses rose from 30.84 million to 37.13 million throughout the month.

This rapid growth in the total addresses highlights an increase in demand and interest among investors, indicating an expanding user base and broader adoption of Toncoin.

2. Toncoin’s Bullish Momentum:

From a macro perspective, Toncoin's bullish momentum is building, although a key technical indicator suggests a potential challenge for the rally. The Relative Strength Index (RSI), which measures an asset’s momentum, is currently hovering just below the neutral line of 50.0.

This positioning indicates that while the upward momentum is building, it has yet to break into a bullish signal fully. As a result, Toncoin's price growth could slow down briefly.

However, the overwhelming enthusiasm from investors may propel the cryptocurrency past this neutral point. If the RSI pushes above the 50.0 threshold, it would signal a further rally, with investors eyeing higher targets.

3. Toncoin Price Prediction: Breaking Barriers

Toncoin's recent 18% surge to $5.42 within three days has placed it close to breaching a key resistance level at $5.53. A break above this resistance could signal even more significant gains in the short term.

If the barrier at $5.53 is flipped into support, the Telegram coin could aim for $5.93, its next major resistance level. Should TON clear this level, the price may continue to climb toward $6.00, an essential psychological barrier for traders. Such a breach would solidify the bullish outlook and further entrench investor confidence.

However, if Toncoin's bullish momentum falters, the price could consolidate just above $4.86, a strong support level. This would represent a second failed attempt to breach resistance within a month, invalidating the bullish narrative in the short term and signaling a possible retracement.

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