Toncoin has shown strength since January after breaking out of a long period of consolidation. Since then, the price has increased by 272% to a high of $7.5. This has created a huge buying pressure, which has kept the coin in an uptrend when larger coins are bearish.

Will Ton go higher than this? If so, can we expect a new double-digit all-time high this month?

In less than two months, from the end of February to the beginning of April, the price of Toncoin rose by 250%. TON’s market capitalization exceeds $24 billion, an increase of 200% since the beginning of the year.

Here are some of the key factors injecting bullish momentum into TON’s outperformance

1. Pantera Capital’s Significant Investment

Pantera Capital has raised expectations for TON by investing more than $4 billion in TON and its ecosystem. But Pantera’s confidence in TON’s potential is evident, especially considering its partnership with Telegram, which has 900 million users and has the potential to position TON as one of the most widely used blockchain networks in the world.

2. The rise of Nothcoin

The next thing making a splash in the TON network is the upcoming launch of Notcoin’s $NOT token, which is scheduled to launch in less than a week and has been listed on major exchanges such as Binance, attracting a lot of attention. Notcoin is an interactive game based on Telegram that will use the TON blockchain as its token. With nearly 35 million users participating in the game, the anticipation for Notcoin has driven the overall excitement in the TON ecosystem, which may have influenced TON’s recent rally.

3. Support from Telegram founder Pavel Durov

Million-dollar partnerships boost confidence in TON. Telegram founder Pavel Durov has been increasingly vocal about the TON ecosystem, especially during his appearance at the Token2049 event in Dubai. Durov’s announcement of TON’s inclusion into Telegram, including features like tokenized stickers and emojis, boosted investor confidence in the relationship between TON and Telegram, potentially driving TON’s recent upward trend.

TON Current Market Overview

Looking at the price of TON, the prediction is bullish. Toncoin recently underwent a healthy correction, reaching a 50% retracement, indicating that buyers are dominant in the market. Its breakout from the wedge pattern indicates the end of the correction, with trading volumes growing 84% to $778.6 million.

Notably, TON’s recovery is in line with the broader market trend, with a 44% gain in two weeks. A breakout above the pattern’s trendline signals a potential rebound with price targets at $9.23 and $22.5. Key resistance levels are $7.67, $10, and $15, while technical indicators show a bullish shift in sentiment.

Do you think TON will hit a new ATH in May?

(Personal opinion, not a recommendation)

If you like it, please follow us for more articles.

Thanks for reading! See you next time!