Could Tether Collaboration Be the Key to TON Hitting $10?

TON, the native cryptocurrency of the Toncoin network, has been trading sideways for over a week amid market consolidation ahead of the halving. Although the formation of a short solid candlestick with a high week does not reflect an initiation from buyers or sellers, the long-term support trend line ensures that the medium-term trend of Toncoin remains bullish. Additionally, the recent integration of the USDT stablecoin into Telegram, a messaging platform connected to the TON Foundation, suggests that TONCoin’s market valuation may be revived.

Also read: Cryptocurrency price prediction for 4/19 suggests Bitcoin will bottom at $60,000

Telegram users can now send USDT in DM

In a major announcement made at the Token2049 event in Dubai, the TON Foundation announced a new partnership with Tether. This collaboration brings the popular stablecoin USDT to the TON blockchain.

Ton Blockchain’s official announcement about X states: All you need to do is send a DM, no need to download a blockchain address or a new app. ”

Adding a stable currency to the ecosystem could improve the utility of TON and increase its appeal to users, triggering natural growth for the native token.

Toncoin price hints at a slight pullback before rising to $10

Toncoin Price | Trading View

Toncoin price is currently trading at $6.495 and is seeing aggressive overhead supply at $7 as evidenced by the long wick rejection candle on the daily chart. If the selling pressure continues, TON price could drop 8% by next week and retest the uptrend line around $5.88.

Dynamic support that remained intact for more than two months provided buyers with a good accumulation point during the market correction. In addition to the aforementioned partnership and the upcoming Bitcoin halving which is expected to have a positive outcome for the market, TON price is well positioned for a bullish reversal.

A corrected rebound from the trendline could push the price above the $7.65 high and chase the psychological level of $10.

technical indicators

  • Pivot level: Traditional Pivot Levels Show Potential Overhead Resistance of $7.87 and $10 as Toncoin Closes to Price Discovery Mode
  • BB indicator: The upward trajectory of the Bollinger Bands indicator underlines the active recovery trend of the TON price.

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