Toncoin’s Future in Question: Can It Stay Bullish After Durov’s Dubai Return?

by

Will Toncoin‘s Rally Continue to Soar? 🚀

  • Toncoin’s rally may have slowed, but darling, the underlying strength is still there, lurking like a charming suitor in the shadows.
  • Despite the cooling momentum, rising TVL and strong holder confidence are like a well-timed witticism – they never fail to leave one in stitches.

Just days after receiving judicial approval to leave France, the inimitable Pavel Durov has returned to Dubai – a city that, much like his Telegram platform, never ceases to fascinate and intrigue.

Durov, the enfant terrible of the tech world, confirmed his return on Monday, stating, “It feels great to be home.” Ah, the joys of being back in the land of gold and luxury – one can almost smell the scent of his bespoke suits and designer sunglasses.

Read more$70 million in 24 hours: Can Ethereum crack $4,000 thanks to whales?

The investigation into alleged criminal activity on Telegram, however, remains a rather more serious matter – rather like a stern lecture from one’s aunt, it’s not something one takes lightly.

While his departure signals a shift in the legal narrative, it also raises questions about Toncoin’s [TON] future – rather like a game of musical chairs, one wonders who will be left standing when the music stops.

Toncoin’s rally slows after weekend surge

TON saw a sharp recovery in recent days, briefly rallying from $2.59 to $3.66 – an over 40% gain – following news of Durov’s travel approval. Ah, the thrill of the chase, the rush of adrenaline as the price surges upwards like a debutante at a ball.

However, the bullish momentum has begun to cool, with Toncoin trading at $3.41 at press time, down 1.25% in the last 24 hours. One supposes it’s rather like a cooling soufflé – still delicious, but no longer the pièce de résistance.

Read moreBitcoin halving could be a ‘sell-the-news’ event, at least for a few months

The RSI has dropped from overbought levels and sat at 53.31, signaling weakening buying pressure – rather like a gentle breeze on a summer’s day, it’s a subtle reminder that the party is winding down.

Meanwhile, OBV remained negative at -835K, suggesting that recent gains may have lacked strong accumulation – much like a hostess who fails to provide sufficient canapés, it’s a rather disappointing experience.

Unless broader participation picks up, TON risks slipping into consolidation or a short-term retracement – rather like a guest who overstays their welcome, it’s a situation best avoided.

Profitability and on-chain valuation signal underlying strength

Read morePEPE flips Optimism: Can OP emerge from the memecoin mania?

TON’s profitability metrics suggest strong holder confidence, with 73.82% of tokens “in the money” – rather like a well-stocked pantry, it’s a reassuring sight.

Only 12.25% of addresses remained “out of the money,” indicating minimal overhead resistance – rather like a well-behaved child, it’s a pleasant surprise.

Meanwhile, the NVT ratio has shown volatile swings, but a clear decline in early March followed by a price breakout suggests undervaluation was corrected – rather like a cleverly worded apology, it’s a masterstroke.

As the price surged from the 13th to the 15th of March, the NVT ratio dipped, indicating that transaction volumes supported the rally – rather like a loyal friend who shows up with a bottle of fine wine, it’s a welcome gesture.

With NVT rising again and a majority of addresses in profit, TON appears structurally resilient, although further upside may depend on sustaining high transaction volumes – rather like a delicate flower that requires careful tending, it’s a fragile yet beautiful thing.

Will TON’s rally persevere?

According to DeFiLlama, TON’s TVL surged from $140M to nearly $170M between March 15-17, reflecting renewed investor confidence – rather like a well-received dinner party, it’s a sign of good times ahead.

Simultaneously, Santiment data shows a sharp spike in whale transactions and sustained high social volume just ahead of the price breakout – rather like a cleverly timed joke, it’s a masterclass in comedic timing.

Surging on-chain activity and social buzz typically signals strong speculative momentum – rather like a crowded room filled with the fashionable and the famous, it’s a thrilling spectacle.

While short-term pullbacks are possible, it seems that TON’s uptrend has legs – rather like a well-trained dog, it’s a loyal companion that’s sure to please.

Unless sentiment sharply reverses or macro conditions shift, Toncoin appears poised to maintain its bullish trajectory – rather like a sunny day in the countryside, it’s a pleasant prospect indeed.

Read More

2025-03-18 08:13