{"id":37478,"date":"2024-09-09T18:33:45","date_gmt":"2024-09-09T18:33:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/toncoin-bounces-back-above-5-next-target-at-6-19\/"},"modified":"2024-09-09T18:33:45","modified_gmt":"2024-09-09T18:33:45","slug":"toncoin-bounces-back-above-5-next-target-at-6-19","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/toncoin-bounces-back-above-5-next-target-at-6-19\/","title":{"rendered":"Toncoin bounces back above $5, next target at $6.19"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/toncoin-ton-token-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/toncoin-ton-token-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/toncoin-ton-token-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/toncoin-ton-token-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Toncoin rebounds above $5 after Pavel Durov\u2019s release and public reassurance.<\/li>\n<li>Trading volume has surged by over 148%, boosting interest in both spot and futures markets.<\/li>\n<li>Resistance at $5.51; a breakout could push TON to its next target of $6.19.<\/li>\n<\/ul>\n<p>Toncoin (TON), the native cryptocurrency of the Toncoin blockchain, has experienced significant volatility in recent weeks, driven by developments surrounding Telegram and its founder Pavel Durov. After a sharp price drop following Durov\u2019s arrest in France, the coin has rebounded above $5.<\/p>\n<p>With its next resistance level at $6.19, investors are watching closely as technical indicators suggest a short-term bearish sentiment, despite renewed optimism.<\/p>\n<h2>Why is Toncoin price rising?<\/h2>\n<p>Toncoin faced a tumultuous period following the arrest of Telegram CEO Pavel Durov in late August. The close association between TON and the popular messaging platform resulted in the token shedding over 30% of its value in a matter of weeks, dropping as low as $4.45.<\/p>\n<p>Concerns over the future of Telegram and its potential impact on TON drove much of the downward momentum.<\/p>\n<p>However, recent developments have led to the slight price recovery. Durov\u2019s release on parole and his public statements addressing the arrest have sparked renewed interest in the asset.<\/p>\n<p>In his comments, Durov criticized the French authorities\u2019 approach to his arrest and reassured Telegram\u2019s 950 million users about the platform\u2019s future.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I&#8217;m still trying to understand what happened in France. But we hear the concerns. I made it my personal goal to prevent abusers of Telegram&#8217;s platform from interfering with the future of our 950+ million users.<\/p>\n<p>My full post below. <a href=\"https:\/\/t.co\/cDvRSodjst\">https:\/\/t.co\/cDvRSodjst<\/a><\/p>\n<p>\u2014 Pavel Durov (@durov) <a href=\"https:\/\/twitter.com\/durov\/status\/1831826862936633657?ref_src=twsrc%5Etfw\">September 5, 2024<\/a><\/p>\n<\/blockquote>\n<p>Durov\u2019s comments, combined with a <a href=\"https:\/\/www.theverge.com\/2024\/9\/5\/24237254\/telegram-pavel-durov-arrest-private-chats-moderation-policy-change\">revamped Telegram privacy policy<\/a> that includes moderating private chats, have given TON the boost it needed to bounce back above $5.<\/p>\n<p>In addition to the positive sentiment from Durov\u2019s release, Toncoin\u2019s trading volume surged by over 148%, reflecting increased activity in both spot markets and perpetual futures.<\/p>\n<h2>TON price technical analysis<\/h2>\n<p>From a <a href=\"https:\/\/www.coinlore.com\/coin\/toncoin\/forecast\/price-prediction\">technical analysis<\/a> perspective, Toncoin\u2019s short-term outlook remains bearish. Out of 17 technical indicators, 10 are signaling a sell, while only 2 recommend a buy.<\/p>\n<p>Despite the slight recovery, the coin is still below several key exponential moving averages (EMAs), including the 20, 50, 100, and 200-day EMAs. However, it has managed to stay above the 10 EMA.<\/p>\n<p>While the recent bounce pushed TON above the key $5 level, technical analysis suggests that it faces resistance at $5.51, which must be cleared for further upward movement.<\/p>\n<p>A successful close above $5.51 will open the door to a potential rally toward $6.19.<\/p>\n<p>Conversely, failure to hold above $5 may see TON test its support at $4.94, with further declines likely if it breaks below that level.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/toncoin-bounces-back-above-5-next-target-at-6-19\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Toncoin rebounds above $5 after Pavel Durov\u2019s release and public reassurance. Trading volume has surged by over 148%, boosting interest in both spot and futures markets. Resistance at $5.51; a breakout could push TON to its next target of $6.19. Toncoin [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":37479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37478"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=37478"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/37479"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=37478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=37478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=37478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}