"TON surges 50% as Pavel Durov leaves France for Dubai, analysts predict 100% rally."
From Cointelegraph
March 16, 2025 08:07:54 AM:
Toncoin (TON) has surged over 50% due to Telegram founder Pavel Durov leaving France for Dubai. Analysts predict a potential 100% rally by 2025, with a target price of $5 by June or July. Market indicators show oversold conditions and a resurgence in open interest, with potential for a bullish reversal.
Crypto Patel highlights TON’s bullish reversal, noting a “great entry zone” for long-term investors. The price has bounced from support levels around $2.40-3.00, serving as resistance in previous periods. Analysts anticipate TON’s price growth towards $6 if it breaks above the falling wedge setup’s upper trendline.
TON’s Sharpe ratio indicates oversold conditions, historically coinciding with bullish reversals. In the derivatives market, TON is experiencing a resurgence in open interest, reaching around $169.12 million. Despite negative weekly funding rates, aggressive shorting could trigger bearish sentiment, risking long liquidations of $10 million if TON falls to $2.54.
Conversely, short positions could face liquidations totaling $12 million if TON surpasses $4, potentially accelerating upward momentum. Investors should conduct their own research as this article does not provide investment advice.
Read more at Cointelegraph: Toncoin in ‘great entry zone’ as Pavel Durov’s France exit fuels TON price rally