Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.
We have shared a technical analysis for Ton token few days back and you can check it -> TON Token Technical Analysis: Can It Reach a New All-Time High?
Today ton token pumped extra ordinarily by 25% and this pump have no secrets to be honest. Let me share the same chart with same stats that I shared last time and then we will understand the technical as well as other reasons why this pumped today.
There are those five arrows where we can see the rejection of price from support as well as the resistance. The first three are resistance rejection and the fourth arrow is breakout and the last one is support bounce back and if you will see carefully it has confirmed that support three more times after that last arrow.
So first of all this pump was obviously expected because of the multiple confirmations of that support line and that is why we saw a 25% pump but was that all it took for this 25% immediate pump? No, there was a very positive news for ton ecosystem as they got a one year deal with Elon musk.
Telegram has Signed a $300M Deal With Elon Musk's xAI where they will be Integrating Grok Into Its Messaging App which is telegram itself. Not only this, Telegram will also receive 50% of revenue from the subscriptions sold via the app. This was the news event which was more impactful in brining the price to that level.
I have few ton with me as my long term investment and I wish this partnership will eventually help ton token reach new heights in coming weeks and months. Only time will tell what will happen with ALT-coins but I just wish things will go well for all of us.
Thank You