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The launch of the Tac mainnet could push the price of TON up to $3.5
More than a billion Telegram users will be able to interact directly with decentralized applications (DApp) on the Ethereum Virtual Machine (EVM) within this messaging app, after the Tac mainnet is launched on Tuesday. The new feature could drive DApp adoption and capital flow into the TON network, as it helps fall the technical barriers for regular users.
Can Toncoin break through the resistance above? Let's analyze the chart to find out.
Price Prediction for TON
The price of TON has surpassed the moving averages (MA) and is currently approaching the descending trend line of the descending triangle pattern.
On the contrary, if the price sharply reverses down from the downtrend line, it indicates that the bears continue to sell when the price rises. This scenario will cause the coin to continue to fluctuate within the triangle pattern for some more time. The sellers will regain the upper hand if they push the price below the support level of 2.75 dollars.
If the price reverses and falls from the downtrend line but bounces off the 20-day EMA, it indicates that market sentiment is still leaning towards optimism. This scenario increases the likelihood of the price breaking above the downtrend line. At that point, TON could rise to $3.4 and then to $3.5.
On the contrary, if the price falls below the MA lines, it indicates that the bulls are gradually losing control. At that point, the price may plummet to $2.9.
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