TON has been on a bullish trend in the last 24 hours. The token is up by 29% in just seven days amid the recent gains. Data from CoinGecko also shows that TON has surged by 4% in the last 24 hours. At the time of writing, TON was trading at $2.41.
TON price prediction
TON has continued to outperform the broader cryptocurrency market. In the last 24 hours, the global cryptocurrency market capitalization has dropped by around 5.3% to $836 billion, with Bitcoin and most altcoins trading in the red zone.
However, TON has decoupled from the broader market and continues to head higher. In the last 24 hours, the price of TON has traded between $2.30 and $2.56, showing substantial volatility. The token’s trading volumes stand at over $52 million.
The positive price action witnessed in TON over the past few days shows that the bulls are in control. On December 14, TON made an impressive uptrend after pumping to the $2.85 level. However, the bears took control and erased some of these gains. Nevertheless, the bullish momentum seems to be back.
The movement of TON’s price shows that bears and bulls are fighting for control. The Relative Strength Index of 46 shows that selling activity is starting to increase as profit takers start dumping after the recent gains.
If the bulls strengthen, TON will likely break past $3 next. However, the bullish thesis will be erased if TON plunges to $2 or below. With the current uncertainty in the broader market, a trend reversal is highly likely.
Telegram launches a No-SIM signup feature
One of the reasons that could be attributed to the recent gain by TON is Telegram launching a privacy-boosting feature. Telegram announced that it would be possible for users to buy anonymous numbers on the Fragment blockchain using TON. This number can be used to register on Telegram and remove the need for signing up with a SIM card.
Since this announcement, TON has made an impressive rally. TON is the native token for The Open Network, a decentralized layer one blockchain. The Open Network was previously known as the Telegram Open Network.
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