Toncoin Price Analysis, According To The Crypto Academy

Bittime - Toncoin Price Analysis according to Crypto Academy on the occasion of Margin Call with Episode "Crypto Rungkad Entek-entekan" briefly discussed the movement of Toncoin prices related to Pavel Durov's Release. See the full analysis below.

Pavel Durov's Release and Impact on TON

After going through various legal challenges, Pavel Durov, the founder of Telegram and the lead developer of the TON (The Open Network) blockchain network, is finally free again. 

However, Durov's freedom does not necessarily mean complete joy for the TON project and investors. 

While Durov has resolved some legal issues, the market is still monitoring the direction of the blockchain network's development, especially regarding TON's price action which has yet to show any bullish signs.

Market Analysis: Is TON Bullish?

Currently, TON is attracting the attention of many market observers. However, it is important to remember that attractive does not necessarily mean bullish. TON's price action shows the potential for the development of a lower high pattern , which is an indication that the current market trend does not yet provide a strong signal for an increase. 

For traders monitoring technical levels, the TON price can only be considered bullish if it manages to pass the $5.5 mark with significant volume.

"At the moment, there is no strong bullish signal. If TON manages to breakout above $5.5 with a large enough volume, then we can see the potential for a continued rally," said Kalimasada. However, until now, this condition has not been met.

Positive Signals for TON Coin Price

Despite the lack of strong bullish signals, TON still has some positive catalysts worth paying attention to. One of them is the strategic partnership between TON and Travala.com, a blockchain-based travel booking platform. 

This collaboration is expected to encourage wider adoption of TON in the digital tourism sector. However, despite the positive catalysts, the current price action is still stuck in the distribution phase.

"After the above distribution, TON price is still not fully bullish," explained an analyst.

Pavel Durov and Legal Challenges

Pavel Durov’s recent challenges have also affected sentiment towards TON. Although Durov has been cleared of the legal issues that once plagued him, the impact of these issues is still felt in the market. Investors are still waiting for clearer signals from the development of this project, both in terms of technology and regulation.

With all these developments, the market is still in a waiting phase. 

Traders and investors should remain vigilant and wait for further confirmation before taking significant investment steps in the TON or Bitcoin network.

Conclusion

Even though Pavel Durov has been released again, the market is still waiting for further developments from the TON network. 

TON price action has yet to show any strong bullish signs, with the $5.5 level as a key point to break. Meanwhile, Bitcoin is also in a resistance phase with the $60,000 level as a key area.

TON’s partnership with Travala.com provides hope for wider adoption, but regulatory challenges and weak price action remain major obstacles to a more significant rally in the market. 

For investors, this is the time to continue monitoring further developments and wait for clearer signals before taking action.

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