Toncoin (TON) has experienced recent volatility as broader market conditions weigh on cryptocurrencies.
The token is currently priced at $1.72, down 3.3% over the past 24 hours.
This decline comes despite a 30-day gain of 14.71%, illustrating the high-beta nature of TON in volatile markets.
The cryptocurrency is underperforming the broader crypto market, which has fallen 1.43% in the same period.
Russia bans WhatsApp
Russia has announced plans to fully block WhatsApp within its borders.
This move comes after months of restricting voice and video calls on the platform.
According to local news outlets, authorities have cited concerns over noncompliance with Russian data laws and the inability of Meta’s services to cooperate with law enforcement.
The ban is expected to drive millions of users toward alternative messaging platforms.
Telegram, which has not been fully banned, stands to gain significant traffic.
The Russian government is also pushing its state-backed messenger, Max, as a mandatory app on new devices.
This shift is part of a broader digital sovereignty strategy.
Telegram’s user base in Russia has already surged in recent months.
An influx of users can increase engagement and adoption of crypto-based services integrated with Telegram, including The Open Network (TON), which was originally developed by Nikolai Durov, co-founder of the Telegram messaging platform.
The adoption of The Open Network, previously known as the Telegram Open Network, could possibly translate to a rise in demand for the Toncoin (TON) cryptocurrency.
Notably, the increase of social and economic activity on Telegram could indirectly support demand for TON tokens.
Toncoin price forecast
In summary, Toncoin’s price trajectory is influenced by both technical factors and macroeconomic conditions.
The Russian WhatsApp ban and migration to Telegram may provide indirect support for TON adoption.
Technically, Toncoin has faced bearish pressure recently.
The token broke a critical support level at $1.75 amid high-volume liquidations.
Volume has surged to $142.9 million, confirming strong sell-side momentum.
TON’s RSI at 48 suggests the asset is approaching oversold conditions, leaving room for short-term relief.
However, the MACD’s negative histogram indicates that bearish momentum remains dominant.
Of late, altcoins like TON have been particularly sensitive to broader market pressures, with recent Bitcoin ETF outflows totaling $681 million contributing to the amplified selling in risk-off conditions.
TON’s beta of ~1.5 against BTC means its price movements are more pronounced than larger cryptocurrencies.
Without positive catalysts such as partnerships or product launches, TON lacks fundamental support during downturns.
Looking at key levels, $1.70 is the immediate support, and holding above this level is crucial for a potential rebound.
According to analysts, if TON maintains above $1.70, the first resistance target is $1.97.
Breaking the $1.97 resistance could open the way toward $2.16 and then $2.34.
However, if the token fails to hold $1.70, a decline toward $1.42 is possible.
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