Toncoin Surges 20% as TAC Mainnet Launch Boosts DApp Adoption

The launch of the TAC mainnet on Tuesday has sparked significant interest in the cryptocurrency community, particularly for Toncoin (TON). This development is expected to facilitate interaction between Telegram’s one billion users and Ethereum Virtual Machine (EVM) decentralized apps (DApps) directly within the messenger. This integration is anticipated to lower the technical barrier for mainstream users, potentially boosting DApp adoption and asset inflows into the TON network.

Analysts have noted that TON has shown early signs of a breakout, which could pave the way for a rally to $3.50. The cryptocurrency has risen above its moving averages and is approaching the downtrend line of a descending triangle pattern. The 20-day exponential moving average (EMA) has started to turn up, and the relative strength index (RSI) has entered positive territory, indicating a buyer's advantage. However, sellers are expected to defend the downtrend line vigorously, as a break above it could invalidate the negative setup and propel the TON/USDT pair to $3.69.

On the four-hour chart, both moving averages have started to turn up, and the RSI remains in positive territory, suggesting that bulls have the upper hand. Buyers are likely to attempt to push the price to the downtrend line, which could present a substantial challenge. If the price turns down from the downtrend line but bounces off the 20-day EMA, it indicates a bullish sentiment, increasing the likelihood of a break above the downtrend line. In this scenario, the pair could rally to $3.40 and then to $3.50.

Conversely, if the price turns down sharply from the downtrend line, it suggests that bears remain sellers on rallies, potentially keeping the pair within the triangle for an extended period. Sellers will gain the upper hand if they push the price below the $2.75 support. Similarly, a drop below the moving averages suggests that bulls are losing their grip, and the pair may slump to $2.90.

It is important to note that this analysis is based on technical indicators and does not constitute investment advice or recommendations. Every investment and trading move involves risk, and individuals should conduct their own research when making decisions.