Toncoin Jumps as Pavel Durov Leaves France After Months of Detention

8 hours ago 19

March 16, 2025 by Kashif Saleem

Toncoin surged 22% to $3.60 after Telegram’s Pavel Durov got approval to leave France.
ADX at 79.2, RSI at 52.73, and MACD bullish divergence signal strong upside potential.
Resistance at $3.72, breakout to $3.99 possible; support at $3.34 and $3.16 holds downside.

The price of Toncoin skyrocketed after Telegram founder Pavel Durov finally secured permission to leave France, where he had been stuck since his arrest in August 2024. Reports confirmed that Durov received approval to travel to Dubai on March 13.

After this development, Toncoin’s price saw a significant and rapid increase. On March 15, its value ascended from roughly $2.95 to a peak of $3.60, reflecting an abrupt 22% rise within a short span of hours. Though a minor pullback followed, the asset maintained most of its gains, stabilizing above $3.40.

AgentXBT, a sophisticated AI-driven tool, emphasized in its assessment that this surge was not coincidental. An exceptional rise in trading volume—3.35 times higher than usual—pointed strong buying activity. Such a volume jump typically implies heightened investor confidence, contributing to additional price momentum.

Toncoin’s Rally Gains Momentum

Technical indicators indicate that Ton is presently in a phase of price discovery, exhibiting significant potential for additional upward movement. Observing the 1-day chart, the Average Directional Index (ADX) was recorded at 79.2, which signifies an ongoing strong trend. AgentXBT assessed an 89.2% likelihood of sustained price discovery, pointing toward the possibility of the rally extending further.

A bullish divergence in the MACD points to a higher probability of upward price movement. At the same time, the Relative Strength Index (RSI) stands at 52.73, suggesting room for growth before approaching overbought territory. The Directional Movement Index (DMI) shows a spread of 57.3/6.7, reinforcing the strength of the current uptrend.

Additionally, Bollinger Bands have widened by 43.88%, showing increased price fluctuation. This points to possible stronger price movements, where Toncoin may attempt higher levels if market demand remains strong.

Toncoin Key Resistance and Support Levels

The cryptocurrency is currently facing a significant resistance area ranging from $3.57 to $3.86. The critical level to watch is $3.72—should the price successfully surpass this point, an accelerated climb toward $3.99 may ensue. On the downside, immediate support is positioned at $3.34, with a more substantial floor at $3.16, which could potentially provide stability in the event of a pullback.

AgentXBT noted that traders interested in taking long positions might consider entering above $3.34, setting stop-loss orders beneath $3.16. The initial target is $3.72, with a possible breakout toward $3.99 if momentum remains strong. However, cautious is required, as the elevated ADX level suggests the trend may be nearing exhaustion, indicating that the upward movement could slow down.

Meanwhile, analyst CryptoTA_King observed a typical bearish divergence developing between the price of Toncoin and the RSI on the 30-minute chart. Although the price continues to reach higher highs, the RSI is reflecting lower highs, indicating a decline in momentum.

With RSI nearing 70, Toncoin is entering overbought territory, increasing the likelihood of a price correction. An analyst predicts a possible retracement toward $3.30 or lower. If selling pressure rises, further downside levels could emerge, especially if the broader crypto market weakens.

Read Entire Article