The crypto token associated with Telegram, Toncoin (TON), is gaining serious attention this week after a decisive breakout from a symmetrical triangle pattern, marking the end of a consolidation phase that lasted several weeks.
The Toncoin price surged past $3.60 today and is now holding around $3.32, sparking bullish calls across the crypto analyst community.
The catalyst is a combination of strong technical setups, surging trading volume, and ongoing excitement surrounding TON’s integration into Telegram’s growing ecosystem, including a pending partnership with Elon Musk’s xAI and its recent completion of a $1.5 billion bond offering.
Crypto analysts now forecast two key targets: a short-term move toward $5.60 and a mid-term climb to $9.60.
Toncoin Price Surges on Breakout and Volume Spike
As per CoinMarketCap, TON is currently trading at $3.32, up 10.16% over the past day. The 24-hour volume has skyrocketed by over 530%, hitting $1.04 billion, signaling strong momentum and renewed investor interest.
On May 28, the TON price touched $3.65, its highest level in recent weeks, after breaking out of a symmetrical triangle pattern identified by analyst Dami-Defi.
He described the move as a textbook breakout, noting the heavy volume that followed. “If this momentum holds, $5.60 is next,” he added, pointing to a bullish breakout structure with limited resistance ahead.
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TON Might Hit $9.60 in the Mid-Term
Zooming out, another popular analyst, Solberg Invest, shared a longer-term chart showing TON bouncing strongly off trendline support while forming a base structure for the next leg up.
His chart outlines a potential rally toward $9.60 later in 2025, contingent on TON clearing horizontal resistance between $4 and $5 in the coming months.
This mid-term target is aggressive but not unrealistic. TON’s all-time high stands at $8.24, reached in June 2024. Reclaiming that level would place Toncoin (TON) firmly in price discovery and set the stage for new highs.
Telegram-xAI Deal Fuels TON Speculation
Adding fuel to the TON price rally is its connection to Telegram. Toncoin is deeply integrated into Telegram’s crypto payments and ecosystem features, making any Telegram-related upgrade or deal highly relevant to TON’s valuation.
On May 28, Telegram CEO Pavel Durov announced a partnership with Elon Musk’s xAI, planning to integrate the Grok chatbot across Telegram apps. This would also involve $300 million in cash and equity, plus 50% revenue share from xAI subscriptions.
While Musk later clarified that “no deal has been signed,” Durov responded that it had been “agreed in principle,” suggesting that the collaboration is underway but pending formalities.
The market’s response was swift: the Toncoin price spiked immediately after Durov’s announcement, confirming how closely TON’s value is tied to Telegram’s growth and investor optimism.
Similarly, BanklessTimes reported that Telegram raised $1.5 billion via bonds, supported by major investors, despite legal issues for CEO Durov. The funds will repay debt, and investor confidence remains strong.
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