TON Up 37% This Week: Will the Bullish Trend Hold?

Toncoin (TON) has been riding a wave of bullish momentum recently, climbing 37% in a week. Despite its recent upswing, the coin is still down 4.62% for the month, and investors are left wondering if this surge has enough strength to continue. So, what’s driving this rally, and is there more room for Toncoin to grow?

A Slowdown After the Rally

Toncoin’s price surged significantly following positive news about Pavel Durov, the founder of Telegram, who was finally allowed to leave France. This freedom followed months of legal scrutiny over Telegram’s involvement with cybercriminals. As a result, TON’s price spiked from $2.59 to $3.66, reflecting a rise of more than 40%.

However, after such a sharp uptick, the price growth has slowed and fell 1.26%, indicating some market hesitation. The Relative Strength Index (RSI), a key indicator of market momentum, has also decreased from overbought levels to 53.31, signaling that buying pressure is weakening. This is typical after a big rally—markets need time to digest gains and consolidate before continuing their upward movement.

Along with that, there are some other concerning trends. TON’s user activity has decreased over the last few months, with a 28% drop in new users from February to March. Transaction volume has also fallen by 35%, suggesting a temporary lull in activity, even though the project continues to build its reputation as a top network for transfers.

Renewed Optimism

Despite the short-term cooling off, Toncoin has surged by 6% in an hour today. For now, it’s trading at $3.62 with a 3.30% daily growth. This jump from $3.41 to its current price suggests that investor confidence is far from over. Analysts have linked this to Durov’s travel approval, which has brought a sense of stability back to the ecosystem.

Furthermore, TON’s fundamentals show positive signs. According to data, 73.82% of TON tokens are "in the money," meaning most holders purchased their tokens at lower prices and are sitting on profits. This reduces the likelihood of panic selling, which often causes volatility in the market. Moreover, Toncoin’s Total Value Locked (TVL) has risen sharply, increasing from $140 million to $170 million between March 15 and 17, signaling growing confidence among investors.

Another positive indicator is the uptick in whale transactions and the rise in social media mentions, both of which point to a strengthening market sentiment. With increasing trading volume and sustained interest from large holders, Toncoin seems to have the backing needed to continue its rise.

Can Toncoin Maintain Its Growth?

Toncoin now stands at a critical crossroads. Despite a slight decrease in trading volume, the long-term outlook remains promising. Strong on-chain metrics, rising TVL, and high profitability for holders are all bullish indicators. It’s also important to note that short-term pullbacks are a normal part of the process and shouldn’t be viewed as a failure.

As of the latest data, Toncoin is priced at $3.60, but analysts are watching closely to see if it can hold above this level. Trading volume has decreased by 31.24%, but some expect this to be a temporary dip as the market recalibrates. Analysts suggest that the support zone for TON lies between $2.40 and $3.00, and if the coin can maintain its current momentum, it may start rising toward $6. However, Toncoin will need to overcome key resistance levels at $3.80 and $4.50 before it can break past that mark.

For now, Toncoin seems to be on the right track, but the key will be to monitor whale activity, overall sentiment, and market volumes. As long as these factors remain favorable, Toncoin could very well continue its ascent, and investors will be closely watching to see if the rally has more room to run.