Toncoin has recorded a sharp move higher, rising 18.4% in the past 24 hours to $2.151, after a wave of structural changes linked to Telegram’s deeper involvement in the TON blockchain.

Over the past week, TON has gained 61.4%, and over the last month it has climbed nearly 69.4%, marking one of its strongest short-term rallies in recent months.

However, despite this momentum, the token is still down 29.3% over the past year, showing that the current rally is taking place within a longer recovery phase rather than a fully established bull cycle.

The main driver behind the latest surge is Telegram’s decision to take direct operational control of the TON network.

In an X post on Monday, Telegram founder Pavel Durov confirmed that the messaging platform is stepping into a leading role in the blockchain’s infrastructure, replacing the TON Foundation.

This shift has introduced a major change in how the market values TON.

Telegram has also reduced transaction fees by roughly six times, pushing them close to near-zero levels.

At the same time, new developer tools and upgrades are expected within the next few weeks, with early indications pointing to a late-May rollout of an updated developer ecosystem through ton.org.

With Telegram’s user base exceeding hundreds of millions globally, the network now carries the possibility of deep integration between messaging, payments, and decentralised applications.

That expectation has triggered a revaluation of TON’s long-term adoption potential.

On-chain data reflects that shift in sentiment, with staking inflows jumping by approximately $191.83 million in a single day, marking the highest level in nearly four months.

At the same time, derivatives markets recorded around $7.17 million in liquidations during the rally, showing that short positions were caught off guard as prices accelerated upward.

From a technical perspective, Toncoin is still in a strong upward structure.

The price is currently trading above all major daily exponential moving averages, including the 10-day, 20-day, 50-day, 100-day, and 200-day levels.

This alignment is typically associated with sustained bullish momentum, especially when shorter-term averages remain above long-term trend indicators.

However, momentum indicators are beginning to show signs of overheating.

The 14-day Relative Strength Index has climbed to 88.72, placing Toncoin deep in overbought territory.

In previous market cycles, readings above 80 have often been followed by either sharp corrections or extended consolidation phases, as traders begin taking profits after rapid gains.

Despite this, the broader structure remains intact, especially since the price is above its long-term 200-day moving average, which suggests that the macro trend has not yet been broken.

The recent price action has pushed Toncoin into a decisive phase, with the combination of strong fundamentals from Telegram’s involvement and stretched technical conditions creating a split environment where both continuation and correction remain possible.

A key breakout zone has formed around $1.90, which now acts as a critical support level.

Below that, $1.50 is being watched as a deeper invalidation point where bullish momentum could weaken significantly.

If Toncoin maintains strength above $1.90, the altcoin may attempt to build a consolidation base before testing the $2.20 resistance zone again.

A break above 2.20 could open the door for further upside as traders continue to price in Telegram’s expanding role within the network.

But the elevated RSI near 89.04 suggests that short-term cooling pressure is likely.

Any loss of momentum could lead to a retracement phase, with $1.90 serving as the key level that would determine whether the current breakout structure remains valid.

Looking at historical behaviour, Toncoin has previously experienced long expansion and correction cycles.

For instance, after reaching an all-time high of $4.94 in December 2021.

The token fell to $0.86 in mid-2022 before entering a prolonged recovery phase that took years to develop.

This background highlights that while rallies can be strong, they are often followed by extended periods of consolidation.

Nevertheless, it is still to be seen whether Telegram’s deeper integration can sustain long-term adoption growth or whether the current surge is primarily driven by short-term speculative momentum.

The post Telegram's takeover of TON network sends Toncoin price up 18% appeared first on Invezz

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