First Target: $3.91! Then Eyes on the $4.50 Levels

If the trendline breakout occurs, the price is likely to move first towards the $3.91 level. This area has historically acted as a significant resistance zone.

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Should TON manage to surpass $3.91, the rally may gain momentum and extend towards the $4.50 levels. This level stands out as a key resistance area that short-term investors will be closely monitoring.

Pullback Scenario: The $3 Support Zone Is Critical!

However, if the price gets rejected from the descending trendline and fails to sustain its upward move, a correction towards the FVG (Fair Value Gap) zone formed during the recent uptrend is expected. The $3 support located in this area is extremely critical for TON.

If the $3 support fails, there is a possibility of a deeper correction down to the $2.50 levels. Therefore, investors are advised to closely watch this key support zone.

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The post TON at a Critical Zone! Will the Uptrend Continue? appeared first on Coin Engineer.

Toncoin Open Interest Hits 42-Day High!

As of March 15, Toncoin open interest (OI) reached $169 million, representing a 67% increase compared to the previous day. According to CoinGlass data, this is the highest open interest recorded since February 1, when it stood at $171.49 million.

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TON is the native cryptocurrency of The Open Network, serving as the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem.

TON Price on the Rise!

Alongside the increase in open interest, Toncoin’s price also climbed sharply. Over the past 24 hours, TON has gained 17%, trading at $3.45 at the time of writing, according to CoinMarketCap data.

Crypto analyst Crypto Billion noted in a March 15 X post that Toncoin is “showing signs of entering a potential long-term accumulation phase” as it stabilizes near key support levels.

However, if this rally proves to be short-lived, about $18.8 million in long positions could be liquidated if TON’s price falls back toward the $3 level it was trading at on March 14.

Durov’s Move to Dubai Triggers Market Reaction!

Reports indicate that a French court has allowed Durov to travel to Dubai, a jurisdiction known for having no extradition agreements with many countries. The crypto community views this development as significant, particularly because Durov’s August 2024 arrest in France sparked concerns over increased crackdowns on privacy-focused services. He was accused of running a platform that facilitated illicit transactions.

Similarly, following Durov’s arrest on August 24, 2024, TON’s open interest surged 32% within 24 hours, while the token’s price dropped by nearly 12%.

On January 21, Telegram announced it would cease supporting any blockchain other than The Open Network (TON) for its messenger services.

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The post Toncoin Open Positions Increased Hugely! appeared first on Coin Engineer.