Toncoin is on its way to an all-time high amidst the Telegram advertising platform launch

TON/USDT chart and technical analysis

Toncoin made a significant rally today and gained more than 37% in the last couple of hours. The price has been in a ranging market since the last month however, it broke the ranging market today. The price will likely make further recoveries and will possibly reach an all-time high in the coming weeks.

Currently, the price is making a correction after the recent rally and will likely drop further and retrace to the 2.16 support level. The 2.16 is a key level from where the price might continue its journey to an all-time high.

I am considering the 2.16 support level for long entry as it is a major support level and my target for this trade is 3.29 and beyond.

TON/USDT fundamental analysis

Fundamentally, the recent rally was mainly driven by the announcement of Telegram’s advertising platform launch. The owner of the Telegram messaging app Pavel Durov announced that the platform will exclusively use the TON blockchain. Similarly, the ad revenue with content creators will also be shared in Toncoin.

Toncoin to Tether trade idea takeaways

• Toncoin recently broke a ranging zone and gained more than 37%.
• The price of TON/USDT is likely to reach an all-time high in the coming days.
• Multiple take-profit levels have been added to secure profit along the way.
• The risk-to-reward ratio on this trade is 1:5.3.
• The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.
• Good luck!

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