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.

Daily TON Price Chart | Source: TradingViewThe 20-day exponential moving average (EMA) at $2.94 has begun to trend upwards, and the relative strength index (RSI) has jumped into the positive zone, indicating that the advantage is leaning towards buyers. The sellers are expected to make an effort to defend the downward trend line, as if the price breaks above this line, the current bearish pattern will be invalidated. This could push TON up to $3.69.

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.

TON price chart 4 hours | Source: TradingViewBoth MA lines have started to trend upwards and the RSI indicator is in the positive zone, indicating that the bulls have the upper hand. Buyers will attempt to push the price up to the downtrend line, but this could be a significant challenge.

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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