How High Can Toncoin (TON) Price Go After Durov's Return?

Besides BNX and CAKE that really took the show at the start of this week with 40-50% pumps, Toncoin's TON is also among top crypto gainers.

Toncoin (TON) has been a hot topic in the crypto sphere, especially after crypto analyst Tom Tucker highlighted a bullish chart pattern.

Toncoin Price Soars 30% Amidst Durov’s Return

The past week has seen BNX and CAKE take the lead with 40-50% gains, but Toncoin’s TON is also among the top crypto gainers.

The TON price has surged over 30% in the last 7 days, and it is currently trading around $3.45.

The biggest factor contributing to TON’s price jump is the return of Pavel Durov. After months of speculation about his whereabouts and plans for the future, the founder of Telegram has finally returned to Dubai and is back in the public eye.

This news has brought fresh excitement to Toncoin, which has strong ties to the Telegram ecosystem.

Durov’s return is sure to spark new interest in the TON project and its cryptocurrency. It could also lead to new collaborations and partnerships between Telegram and other blockchain projects.

This development is a positive sign for the future of Toncoin and the broader crypto market. It could also have a knock-on effect on other cryptocurrencies, as traders become more optimistic about the market.

Toncoin Could Soar 100% From Key Support

Crypto analyst Tom Tucker has shared a chart of TON that is generating a lot of buzz online.

The chart shows that Toncoin is rebounding strongly from the $2.40-$3.00 support zone, which is a key historical level. It has also broken out of a falling wedge pattern, which could signal a reversal of the downtrend.

The cryptocurrency had been making lower highs and lower lows for a while, but the falling wedge pattern suggests that sellers are losing steam.

Tucker notes that buyers have stepped in repeatedly at the $2.40-$3.00 range, creating a strong floor for the price. The multiple touches at this zone demonstrate its significance for Toncoin’s price action.

After breaking out of the falling wedge, Tucker believes that TON could now rally toward $5-$6. The first level of resistance is around $3.80, and another key level to watch is $4.77, where sellers might step in again. His chart clearly shows an upward arrow indicating the expected breakout direction.

If Toncoin manages to break above the 50-day moving average, it would be another good sign for buyers and could confirm the bullish momentum.

The analyst’s tweet made a bold prediction of a 100% rally from the support zone.

Since then, the price of TON has already moved up to $3.45, adding some weight to his prediction.

Tucker expects the price of TON to reach $5-$6 by mid-2025, which aligns with the historical resistance levels highlighted in his chart.

If the current breakout holds and the selling pressure eases, we might see Toncoin accelerate toward these targets in the coming months.

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