TL;DR

Toncoin holds the key $2.87 level, setting sights on $5.30 if support continues to attract buyers. RSI and MFI readings suggest overbought conditions as traders watch for a possible short-term pullback. Telegram’s TON Wallet rollout in the US could expand adoption, reaching 87 million users instantly.

Price Maintains Critical Support Range

Toncoin (TON) continues to trade above the $2.87 level, a price area closely watched by traders. As of press time, TON was priced at $3.14 after slipping 5% in the past 24 hours. Over the past week, the token is down 4%, with total daily volume near $334 million.

According to chart analysis from Ali Martinez, $2.87 sits just above the 0.5 Fibonacci retracement and remains an important area for bulls to defend. Maintaining this level sustains the broader upward trend. Should the assistance hold on, the most apparent objective is at roughly $5.30, around the 0.786 Fib expansion and a previous supply region.

As long as Toncoin $TON holds above $2.87, the bullish structure remains intact. A move to $5.30 could be next. pic.twitter.com/dfGZrAqCia

Notably, Toncoin’s broader chart shows price respecting a rising channel that has been in place since early 2023. Higher lows have formed consistently over time, which suggests continued buyer interest.

Earlier this year, TON broke through $2.87 with strong momentum and later returned to retest it. That was a typical support turnaround, and since then, buyers have entered the scene. In case the level of $2.87 is broken, lower supports could be located, approximately, at the level of $2.23, yet the trend so far remains positive.

Momentum Indicators Enter Cooling Phase

On the daily chart, the Money Flow Index (MFI) is sitting at 83.71, placing the asset in overbought territory. This may lead to some near-term consolidation or profit-taking.

Meanwhile, the Relative Strength Index (RSI) has eased to 62.08 but still sits above its average line at 54.48. That implies that the bulls still have momentum, albeit less violently than in the previous days. How buyers will behave in the next few days, whether they will save the current structure, will be the pivotal test.

Source: TradingView

TON Wallet Launch Boosts Exposure

Telegram has begun rolling out its TON Wallet to US-based users, reaching over 87 million accounts. The update connects crypto transfers and staking directly to stablecoin payments in the app, without any additional tools.

This marks the first time a self-custodial wallet has launched inside a major US messaging platform. Speaking to CNBC, Andrew Rogozov, CEO at TOP, noted the decision to expand in the US was based on changing regulatory conditions and Telegram’s large user base.