Toncoin (TON) has surged over 5% in the past 24 hours, signaling renewed market demand amidst a broader market downturn.
Crypto analyst Ali Martinez suggests that TON is showing a bullish pattern, with a potential 40% price breakout ahead based on a symmetrical triangle formation in the 4-hour trading chart.
Currently trading at $3.16, a breakout above $3.28 could lead TON's price to $4.55-$4.65, while a breakdown at $3.10 could result in a price between $1.80-$1.90.
Telegram's partnership with xAI, announced by Pavel Durov, has contributed to recent price gains of TON, which ranks as the ninth largest cryptocurrency with a market cap of $7.79 billion.