Ton coin (TON) experienced a remarkable price increase after France lifted Pavel Durov’s travel restrictions, even though many investors initially denied its influence.
Pavel was restricted from moving out of France until the investigations following his involvement with co-founding Telegram and Toncoin had been completed.
However, Durov argued the two were different entities from him and he had no authority over their decisions.
Toncoin Reacts Positively to Lifting of Travel Ban
The lifting of Pavel Durov’s travel restrictions caused the cryptocurrency market to produce significant price increases within Toncoin, which reached $3.4577.
Investors showed clear signs corresponding to Wall Street Cheat Sheet’s market psychology cycle that demonstrated a fast transition from “disbelief” to “hope” then settled into “optimism” then “euphoria” after the price surge.
Ton coin price rose from their late 2024 low value of $2.00 until reaching a peak of $7.00 before a sudden decrease brought it back to $4.00, which revealed investor emotional instability.
Holders exhibited “denial” in their investing outlook despite Pavel being granted freedom to move.
The news also saw the new TVL peak at $3.7 Million in liquidity; the daily trading volume recorded was $3.5 Million which was up by 254%, while trading fees hit a high of $10.7K.
The chart indicated that market participants had difficulty understanding whether the current Ton coin price upswing would persist, similar to how investors act after peaks followed by major market drops.
Durov’s release, combined with psychological reactions indicated that investors are uncertain about adopting the full potential of a TON recovery due to their current denial.
The market showed constant volatility because Toncoin’s value showed responses from outside factors as well as from within its user base’s emotional state.
Will TON Price Hold Above 200EMA
For the price action of TON, it has established itself above the 4-hour 200 EMA at $3.3666. At the time of writing, TON had gained 4.17% in a day and was trading at $3.72.
A swift price climb pushed Ton coin value above $2.80 to breach the down-trending resistance in an extensive downtrend channel.
Sellers entered the market at $3.60 within the marked slanting resistance area to generate the seen rejection.
TON has the potential to establish support at $3.3666 above which could activate a move to $3.80 then potentially reach up to $4.00.
The price signal strength would grow through a successful breakout from the resistance area to continue its upward advance.
TON coin could resume its downward move past $3.3666, leading the price towards $3.20 or potentially all the way to $3.00 if its breakout fails.
The shape of the pattern indicated an ascending wedge, which frequently results in price drops after support levels become insufficient.
TON price as of press time was consolidating within a small ascending triangle pattern, which developed resistance at its upper limit.
TON needs to hold the $3.3666 level in the upcoming sessions to validate its breakout, but failure at this point could push prices back into its established range.
The post TON Coin Continues To Climb, How Far Will It Go? appeared first on The Coin Republic.
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