Key Highlights:

• TON cryptocurrency has exceeded the $3 price point with a 2.33% increase in the last 24 hours, showcasing robust buying interest and institutional accumulation.
• WhatsApp’s ad testing is directing users towards the Telegram platform, potentially boosting the adoption of the TON ecosystem.
• Analysts have observed that Toncoin has gained 140% in price throughout 2024, with predictions of it hitting $6.48 by 2025 and $49.22 by 2030.

The Telegram-native cryptocurrency TON has crossed the critical $3 barrier, reflecting strong momentum and impressive trading volume, nearly tripling the average in recent times. This rise aligns with the increasing popularity of Telegram’s ecosystem, especially as WhatsApp introduces advertisements, which may lead to greater adoption of an ad-free crypto-integrated messaging service.

While recent market fluctuations have been noted, TON continues to show solid support levels and an upward trend, indicating heightened institutional engagement and a growing user base utilizing Telegram’s blockchain technology.

Technical Analysis:

• Observed an upward trend forming with higher lows and highs, surpassing crucial resistance at $2.97 with exceptional volume.
• Strong support was noted at $2.94 with a new support level forming at $2.982 following recent volatility.
• High volume during peak trading hours reached over 3 million, indicating substantial institutional buying.
• The development of a V-shaped recovery pattern during market corrections has been observed, along with significant volume spikes present in both selling and recovery phases.
• Successfully reclaimed the $2.995 level after corrections, reinforcing the overall bullish trend.