{"id":834621,"date":"2025-03-17T08:12:12","date_gmt":"2025-03-17T13:12:12","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/17\/toncoin-in-great-entry-zone-as-pavel-durovs-france-exit-fuels-ton-price-rally\/"},"modified":"2025-03-17T08:12:12","modified_gmt":"2025-03-17T13:12:12","slug":"toncoin-in-great-entry-zone-as-pavel-durovs-france-exit-fuels-ton-price-rally","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/17\/toncoin-in-great-entry-zone-as-pavel-durovs-france-exit-fuels-ton-price-rally\/","title":{"rendered":"Toncoin in 'great entry zone' as Pavel Durov's France exit fuels TON price rally"},"content":{"rendered":"
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Toncoin (TON<\/a>) has surged by over 50% in the past week, fueled by news<\/a> that Telegram founder Pavel Durov has been granted permission to leave France for Dubai.<\/p>\n

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TON\/USDT weekly price chart. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

TON\u2019s bullish reversal, especially after falling to $2.35, its lowest level in a year, has traders eyeing key price levels, with crypto analyst Crypto Patel highlighting<\/a> a “great entry zone” for long-term investors.<\/p>\n

TON is eyeing a 100% rally in 2025<\/h2>\n

As Crypto Patel notes, TON\u2019s price has \u201cperfectly bounced\u201d from its support level of around $2.50. <\/p>\n

Furthermore, the support falls inside the $2.40-3.00 area that served as resistance in December 2022-April 2023 and September 2023-April 2024 periods. The analyst argues that the area now served as a \u201cgreat entry zone,\u201d citing TON\u2019s ongoing rebound from the same range.<\/p>\n

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TON\/USDT weekly price chart. Source: TradingView\/Crypto Patel<\/em> <\/p>\n<\/figcaption><\/figure>\n

A decisive rebound from the $2.40-3.00 zone could have TON target its prevailing descending trendline resistance in the coming weeks, which may push its price toward $5 by June or July.<\/p>\n

Related: <\/strong><\/em>Wallet in Telegram to list 50 tokens and launch yield program<\/strong><\/em><\/a><\/p>\n

The upside outlook aligns with analyst Profit Mind\u2019s falling wedge setup<\/a>, which anticipates the Toncoin price to grow toward the $6 upside target if it breaks above the wedge\u2019s upper trendline.<\/p>\n

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TON\/USDT daily price chart. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

Falling wedges typically resolve when the price breaks above the upper trendline and rises by as much as the pattern\u2019s maximum height.<\/p>\n

Analyst Crypto Billion further anticipates a bullish reversal in TON markets, citing its oversold relative strength index (RSI)<\/a> as a primary catalyst for potential long-term accumulation.<\/p>\n

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Source: <\/em>Crypto Billion<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Toncoin\u2019s Sharpe ratio<\/a>, a financial metric used to measure an asset\u2019s risk-adjusted returns, further indicates oversold conditions in the TON market.<\/p>\n

As of March 16, the 180-day average ratio had dropped below -25, as denoted in blue. In the past, TON has undergone bullish reversals largely when its Sharpe ratio turned blue, as seen in late 2022 and mid-2023.<\/p>\n

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TON Sharpe ratio (180 days). Source: CryptoQuant<\/em><\/p>\n<\/figcaption><\/figure>\n

TON shorts remain dominant<\/h2>\n

In the derivatives market, Toncoin is witnessing a resurgence in its open interest (OI)<\/a> \u2014\u00a0a metric tracking the total number of unsettled TON contracts such as options and futures.<\/p>\n

As of March 16, TON\u2019s OI was around $169.12 million, compared to $80.75 million just five days prior. <\/p>\n

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TON Futures\u2019 OI and funding rates. Source: <\/em>CoinGlass<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

On the flip side, TON\u2019s weekly funding rates are treading around negative territory \u2014\u00a0they marginally rose into positive territory after plunging to -0.678% earlier on March 16.<\/p>\n

When funding rates turn negative as OI rises, it often reflects bearish sentiment with aggressive shorting. The 30-day liquidation map tracking TON\/USDT on Bybit risks nearly $10 million in long liquidations if the Toncoin price falls toward $2.54.<\/p>\n

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Bybit TON\/USDT 30-day liquidation map (as of March 16). Source: <\/em>Coinglass<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Conversely, the same liquidation map reveals that approximately $12 million worth of short positions could be at risk if TON surpasses the $4 mark. <\/p>\n

If this scenario plays out, the cascading effect of forced buybacks could accelerate Toncoin\u2019s upward momentum, sending the price to the aforementioned levels. <\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n