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The Toncoin price has surged 21% in the last 24 hours to trade at $3.53 as of 8:47 p.m. EST on a 379% increase in trading volume to $749 million.
The price jump follows news that Telegram founder Pavel Durov departed France for Dubai after being held in the country since his arrest in August.
💥BREAKING:
PAVEL DUROV LEAVES FRANCE FOR DUBAI UNDER COURT AUTHORIZATION
BIG WIN FOR $TON pic.twitter.com/oTI3yUNezr
— Crypto Rover (@rovercrc) March 15, 2025
He faced allegations that Telegram enabled criminal activity on its platform.
His temporary departure, after posting bail of 5 million euros, sparked a rally in the TON price.
The token, tied to The Open Network (TON) and initially developed by Telegram, has faced volatility since Durov’s legal woes began, plummeting 35% post-arrest.
Durov’s exit has reignited debates over tech accountability, with supporters hailing it as a win for innovation.
Toncoin Price Eyes a 98% Breakout After 21% Spike
The Toncoin price chart shows a potential breakout trading within a long-term descending channel, suggesting a possible trend reversal. The price had consistently dropped within the channel but recently surged, breaking above the 21-day simple moving average (SMA) resistance.
However, the recent price surge has pushed it towards the upper boundary of this channel, indicating a potential breakout attempt. Currently, TON/USDT is priced at $3.52, down 1.53%. Immediate resistance is at $3.64, and major resistance is at $4.50. On the downside, support levels are at $3.12, $2.56, and $1.80.
TONUSDT Source: TradingView
Toncoin Bullish Technicals Signal More Upside
The moving averages indicate a prevailing bearish trend, with the 50-day MA acting as resistance and the 200-day MA still positioned above the price. However, momentum indicators indicate growing bullish strength.
The relative strength index (RSI) is at 58.63, indicating increasing buying pressure, but it is not yet overbought. Increased momentum could push it to the 70 overbought regions before the sellers step in for a potential bearish move.
Further, the MACD sported a bullish crossover, with histogram bars showing a significant increase in volume. This confirms the TON price upward momentum. If volume remains high, the price of TON will likely continue towards higher pivot point levels.
If TON/USDT successfully breaks above $3.74, it could target $4.50 and potentially reach $5.67 in the mid-term. A confirmed breakout from the descending channel could see a rally toward $7.2, representing a 98% gain from current levels.
Conversely, failure to break resistance may lead to a pullback toward $3.12 or even $2.56. But long-term growth hinges on Durov’s legal outcome and TON’s adoption within Telegram’s near-billion-user ecosystem.
Solaxy Presale Closes On $27 Million – Next Crypto To Explode?
As investors book profits from the recent Toncoin price surge, Solaxy (SOLX), a pioneering Layer-2 solution for the Solana blockchain, has roared past $26.5 million in funds raised in its presale.
Launched in mid-December, the project has captured investor attention with its promise to tackle Solana’s notorious network congestion.
Surging meme coin launches have burdened its network, a situation that worsened when Donald Trump’s team launched the TRUMP and MELANIA meme coins in January.
Solaxy’s appeal lies in its mission to supercharge Solana by processing transactions off-chain and bundling them for final settlement on the mainnet.
🚀 Big news for #Solaxy ($SOLX)! Their new Layer 2 solution for #Solana is here to tackle scalability issues. With meme coins rising in popularity, SOLX transactions could surge! 📈 Don't overlook this potential hidden gem! #Crypto #MemeCoins #InvestSmart
— The Artificial PnL Intelligence (@ThArPnIn) March 15, 2025
Solaxy not only improves network efficiency but also makes it easier for developers to build on Solana. With ready-to-use tools, it helps launch new projects or upgrade existing ones quickly and smoothly.
SOLX will be the first to use this technology, linking Solana with Ethereum to create a stronger and more scalable Web3 network.
99Bitcoins, a top YouTube crypto channel with over 726K subscribers, says SOLX could soar 100X after its launch.
Early adopters are also reaping the rewards, with staking yields currently at 154% annually. More than 7 billion SOLX tokens are already staked.
The SOLX token is currently priced at $0.001664 and can be bought using crypto or a bank card.
Interested investors should buy before a price hike in less than 9 hours.
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