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Toncoin (TON), the native token powering the Telegram Open Network, is showing strong bullish momentum after breaking out of a key falling wedge pattern. As the price crosses $3.40, traders and analysts are now eyeing the $6.93 target as the next major milestone — a level not seen since 2024.
Toncoin Price Climbs Past Resistance
Toncoin is currently trading around $3.43, up 1.38% in the past 24 hours. Trading volume has also surged over 51% to $435 million, signaling increased market activity and growing investor interest. The breakout above the $3.37 resistance level is significant, as this zone previously capped Toncoin’s upward moves.
Technical indicators also support a bullish outlook. The token is trading above both the 50-day ($3.28) and 100-day ($3.05) simple moving averages (SMA), confirming upward momentum. The Relative Strength Index (RSI) sits near 62.6 — strong but not yet in overbought territory. The MACD indicator shows a neutral-to-bullish crossover, suggesting continued upward potential.
Falling Wedge Breakout Points to $6.93
Toncoin recently broke out of a multi-month falling wedge pattern on the weekly chart — a setup often associated with a bullish reversal. According to popular crypto analyst Carl Moon, the breakout target for this wedge formation points to $6.93, a major resistance level last seen in 2024.
On the daily chart, Toncoin has also reclaimed the upper Bollinger Band and is approaching the next short-term resistance at $3.47. If bullish momentum holds, the price could test $3.60–$3.65 in the coming sessions. Breaking above this zone would likely push TON into the $4 range, setting the stage for a broader rally toward the $6.93 target.
Viral Telegram Activity Fuels Interest
Much of the renewed interest in Toncoin can be attributed to recent developments within the Telegram ecosystem. A viral story has been circulating around the @crypto username, which was originally purchased for $350,000 in 2023. This week, it reportedly received a $25 million offer — a staggering 70x return.
This story has reignited investor enthusiasm around Telegram’s TON-powered identity layer, which includes on-chain usernames, digital assets, and channels. These identities are stored and secured via smart contracts, offering full ownership and transparency.
Telegram founder Pavel Durov has long championed the idea of digital sovereignty for users. The high-value bid for @crypto adds real-world validation to that vision, showing the market potential for tokenized digital assets within Telegram’s ecosystem.
TON Wallet Launch in the U.S.
Adding to the bullish sentiment, the TON Wallet recently launched in the United States, making it easier for 87 million U.S.-based users to access crypto directly within the Telegram app. The wallet now supports crypto purchases via Apple Pay and Google Pay, as well as features for managing NFTs and digital identity assets.
This rollout could greatly increase Toncoin’s adoption and utility, bringing in millions of new users to the TON blockchain.
Strong On-Chain Metrics Back the Rally
The Toncoin network itself is seeing impressive growth. According to TON Stat data:
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Daily transactions remain steady above 2 million
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On-chain wallet activations average around 19,600 per day
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Total wallets have reached 159.7 million
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Approximately 45 million wallets are actively used
These metrics indicate that Toncoin is not just experiencing hype-driven price action but is also backed by real ecosystem expansion and user activity.
Short-Term Outlook and Price Targets
In the short term, Toncoin will need to clear a few more resistance zones to sustain its rally. The next local targets are $3.47 and then $3.60–$3.65. A clean breakout past these could push TON into the $4.00–$4.20 range.
However, the bigger picture remains focused on the $6.93 target derived from the falling wedge breakout. Reaching this level would represent a 100%+ gain from current prices and potentially mark a new chapter in Toncoin’s price history.
Conclusion
Toncoin is gathering bullish momentum on both technical and fundamental fronts. A viral username bid, growing Telegram integrations, a U.S. wallet launch, and rising on-chain activity are all contributing to a favorable environment for growth.
With the breakout above $3.37 confirmed and the falling wedge pattern now active, all eyes are on Toncoin’s next resistance levels. If current momentum continues, a move toward $6.93 could be well within reach in the coming weeks or months.
