Toncoin

Foundation

TON, the native cryptocurrency of the <a href="https://coingape.com/toncoin-ton-overtakes-dogecoin-with-18-gains-and-new-ath-10-coming-soon/" rel="noopener noreferrer nofollow">Toncoin network</a>, has been trading sideways for over a week amid the pre-halving consolidation in the market. While the formation of the short body candles with high weeks reflects no initiation from buyers or sellers, a long-coming support trendline assures the mid-term trend remains bullish on Toncoin. Moreover, the recent integration of the USDT stablecoin within Telegram, a messaging platform connected to the TON Foundation, signals a potential for Toncoin’s market valuation to experience a resurgence.
Also Read: <a href="https://coingape.com/markets/crypto-price-prediction-4-19-as-bitcoin-hints-bottom-formation-at-60k/" rel="noopener noreferrer nofollow">Crypto Price Prediction 4/19 As Bitcoin Hints Bottom Formation at $60K</a>
<h2 id="b-telegram-users-can-now-send-usdt-with-a-dm-b">Telegram Users Can Now Send USDT with a DM</h2>
In a significant announcement made at the Token2049 event in Dubai, the <a href="https://coingape.com/tether-expands-usdt-support-on-ton-blockchain/" rel="noopener noreferrer nofollow">TON</a> Foundation unveiled a new partnership with Tether. This collaboration brings the popular stablecoin, USDT, to the TON blockchain.
Ton Blockchain’s official announcement on X indicates that “This initiative is set to transform global peer-to-peer payments, allowing Telegram’s users to send transfers freely and instantly between all Telegram users; all you need to do is send a DM, no need for a blockchain address, and no need to download a new app.”
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 7/ The launch of USDt on <a href="https://twitter.com/hashtag/TON?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TON</a> represents a step towards integrating digital currencies into everyday life, providing 900M users with a seamless and integrated financial service within TON’s Web3 ecosystem in Telegram.<a href="https://t.co/s3uLPhqSBJ" rel="noopener noreferrer nofollow">https://t.co/s3uLPhqSBJ</a>
 — TON <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f48e.png" alt="💎" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@ton_blockchain) <a href="https://twitter.com/ton_blockchain/status/1781294483696443834?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 19, 2024</a>
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 Adding a stable currency to the ecosystem will potentially enhance TON’s utility and appeal to users, thus causing a natural growth in its native token.
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<h2 id="strong-toncoin-price-hints-minor-pullback-before-a-rally-to-10-strong">Toncoin Price Hints Minor Pullback Before a Rally to $10</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/8/8eE4P6wi.png" alt="OKX:TONUSDT Chart " width="1946" height="893">
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 Toncoin Price| Tradingview
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</figure>
The <a href="https://coingape.com/toncoin-teases-major-announcement-what-next-ton-price/" rel="noopener noreferrer nofollow">Toncoin price</a> currently trades at $6.495 and witnesses an aggressive overhead supply at $7, evidenced by long-wick rejection candles in the daily chart. If the selling pressure persists, the TON price may plunge 8% by the next week to retest the ascending trendline around $5.88.
The dynamic support intact for over two months has provided buyers with suitable accumulation points during the market correction. Along with the aforementioned partnership, and the upcoming <a href="https://coingape.com/bitcoin-halving-countdown-start-what-expect/" rel="noopener noreferrer nofollow">Bitcoin halving</a> anticipated to trigger a positive market outcome, the TON price is well-positioned for a bullish reversal.
The post-correction rally rebound from the trendline could surpass the $7.65 high and chase the $10 psychological level.
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">Pivot levels: With the Toncoin close to price discovery mode, the traditional pivot level indicates potential overhead resistance at $7.87 and $10</li>
 <li style="font-weight: 400;" aria-level="1">BB Indicator: An upward trajectory in the Bollinger Band indicator highlights an active recovery trend in TON price.</li>
</ul>
The post <a href="https://coingape.com/markets/toncoin-price-forecast-could-tether-collaboration-be-the-key-to-ton-hitting-10/" rel="noopener noreferrer nofollow">Toncoin Price Forecast: Could Tether Collaboration Be the Key to TON Hitting $10?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Toncoin Price Forecast: Could Tether Collaboration Be the Key to TON Hitting $10?

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