Will Telegram’s New ‘Gift’ Feature Drive $TON Price for $8 Breakout? - CoinGape Analytics

Toncoin price has struggled during a low-volatility weekend, declining 3.2% over the past 24 hours. This bearish momentum is linked to geopolitical tensions in the Middle East and a potential death crossover between key exponential moving averages (EMAs). The question remains whether TON buyers can counteract this trend, especially with the new "Gift" feature launched on Telegram, which allows users to send digital gifts.

Telegram's CEO, Pavel Durov, introduced the "Gift" feature, enabling users to give and display gifts that can be exchanged for 'Stars,' the platform's virtual currency. Some gifts will have limited availability and can be converted into TON-based NFTs later this year, which users can trade on the blockchain. These updates could boost transaction volume on the TON network, potentially aiding Toncoin's price recovery.

Despite a surge in TON's Total Value Locked from $317.2 million to $404 million in September, the looming EMA death crossover poses an 11% downside risk for Toncoin, which may test support at $5. If the price breaks this level, it could drop to $4.6. Conversely, if buyers can turn the overhead trendline into support, Toncoin might see a sustained recovery towards $7.26 and potentially reach $8.2.