Telegram announced that its one-billion-user platform will now support Ethereum Virtual Machine (EVM) decentralized applications (DApps) directly through the Telegram Open Network (TON) mainnet launch. This integration aims to lower the technical barrier for mainstream users, potentially boosting DApp adoption and asset inflows into the TON ecosystem.
TON Price Analysis: Potential Breakout?
Analysis suggests TON may be positioned for a price increase. The cryptocurrency is rising above key moving averages and approaching the lower boundary of a descending triangle pattern.
The 20-day exponential moving average (approximately $2.94) has started to turn upwards, and the relative strength index (RSI) entered overbought territory, indicating potential buying pressure.
If TON breaks above the downtrend line, it could signal a bearish structure breakdown, potentially pushing the TON/USDT price towards $3.69.
On the four-hour chart, both key moving averages have turned up. The RSI being in positive territory suggests bulls hold an advantage.
A successful push above the downtrend line could see TON rally towards the $3.50 resistance zone.
However, failure to sustain above the downtrend line could result in further losses, potentially reaching $2.90, if the 20-day EMA is breached.
This analysis presents potential market outcomes based on current chart patterns. Trading and investing in digital assets involve significant risk.
Disclaimer: This article does not constitute financial advice or a recommendation. All investments are subject to market risk. Readers should conduct their own research before making any financial decisions.
