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Why Is Toncoin Price Up?
- Toncoin (TON) price surged over 20% due to partnership between Elon Musk's xAI and Telegram to integrate AI chatbot into platform.
- The surge in price is fundamentally driven by a real-world event impacting Toncoin's utility and visibility.
- The partnership with Telegram is seen as a sentiment catalyst, potentially expanding TON's usage and demand.
- Technical indicators and volume spikes confirm the breakout above key resistance levels for Toncoin.
- The surge in price suggests strong belief in TON's growing role within the AI ecosystem, particularly with Telegram's integration.
- Predictions indicate that TON price could reach $4–$4.50 range in the near term and potentially beyond $5 in the longer run.
- Chart analysis shows a breakout pattern on hourly and daily charts, with clear support and resistance levels identified.
- The sustainability of the surge depends on factors like resistance zones, volume confirmation, and momentum bursts.
- Fibonacci extension targets indicate potential upside to $3.74 and $3.95 if TON price holds above key support levels.
- Buyers should be cautious of short-term pullbacks if TON price fails to break above key resistance levels and support levels are breached.
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