- The surge in Toncoin’s value is fueled by both technical strength and positive developments surrounding Telegram’s founder, Pavel Durov.
- If TON maintains momentum, analysts expect it to target $5 by mid-2025, presenting a strong long-term investment opportunity.
Toncoin (TON) has experienced a remarkable surge of over 50% in the past week, capturing the attention of investors and analysts alike. According to a recent CNF highlight, the TON ecosystem remains optimistic, with price forecasts as high as $19.
According to the Moscow Times, this bullish momentum coincides with significant developments surrounding Telegram founder Pavel Durov, who has recently been granted permission to leave France for Dubai.
After days of questioning following his arrest, Durov was charged with several counts of failing to curb extremist and terrorist content and was released on a €5 million ($5.6 million) bail.
Pavel Durov’s Legal Developments
Durov’s departure from France comes amid an ongoing investigation into allegations that Telegram facilitated illegal activities, including drug trafficking and terrorism.
After his arrest in August 2024 near Paris, Durov was formally investigated but not charged. He posted a €5 million bail and was initially restricted from leaving France. However, recent reports confirm that he has now been allowed to travel to Dubai.
Toncoin’s Technical Outlook
Following the recent updates by Binance, from a technical perspective, TON’s price has rebounded from the $2.35 support level, marking its lowest point in a year. Analysts identify the $2.40–$3.00 range as a “great entry zone” for long-term investors.
If TON maintains its momentum, it could target the descending trendline resistance, potentially pushing its price toward $5 by mid-2025.
Toncoin’s Market Position and Future Projections
It is also worth noting that Toncoin’s recent rally has propelled it past Stellar (XLM) in market capitalization, signaling increasing investor confidence and growing adoption.
Despite its impressive gains, market sentiment remains mixed, with technical indicators suggesting potential volatility ahead. Analysts, however, remain optimistic, with some forecasting that TON could reach $3.68 by March 19, 2025, representing a 30.3% increase from its current price. If bullish momentum continues, Toncoin could see further breakouts in the coming months.
According to CoinMarketCap data, TON is currently trading at $3.44, reflecting a 0.44% decline over the past day but an impressive 28.07% gain in the past week.
