TON Coin (TONUSD) Forms a Falling Wedge Pattern, Targeting a 19% Surge to the $3.6278 Resistance Zone

A falling wedge is a bullish reversal structure where the price moves between two downward-sloping, converging trendlines, often indicating weakening selling pressure.

On May 20, 2025, the 4-hour chart of TON Coin (TONUSD) is displaying the formation of a falling wedge pattern. A falling wedge is a bullish reversal structure where the price moves between two downward-sloping, converging trendlines, usually indicating weakening selling pressure.

If the pattern confirms, the price may surge approximately 19% from the current level, targeting the $3.6278 resistance zone.

Meanwhile, the 50-period Exponential Moving Average (EMA) stands at $3.1287, acting as near-term dynamic resistance. TON Coin has tested this EMA several times during the wedge formation but has yet to break above it.

At the same time, the Relative Strength Index (RSI), a momentum indicator, reads 44.67 and remains close to the neutral 50 line. This suggests that bearish momentum is fading, which often precedes an upward move.

In addition, the narrowing structure shows declining volatility, a classic sign that a breakout may be nearing. If TON closes above the wedge’s upper red trendline with strong momentum, it could confirm the reversal and trigger the projected rally toward $3.6278.

Telegram Shut Down Two Major Black Markets Linked to $35 Billion in Illicit Trades

On May 13, 2025, Telegram shut down two major Chinese-language digital black markets—Huione Guarantee (also known as Haowang Guarantee) and Xinbi Guarantee—citing violations of its terms of service related to scamming and money laundering. These platforms had collectively facilitated over $35 billion in transactions since 2021, a sum that dwarfs the activity of infamous dark web markets like Silk Road.

The move follows a report by blockchain research firm Elliptic and inquiries by several media outlets highlighting the enormous volume of illicit activity transpiring on the platforms, which offered services such as money laundering, stolen data sales, and tools for online fraud.

After Telegram took action and Huione Guarantee announced its closure, stating that all its Telegram channels and groups had been closed.

Following this development, the price of Toncoin (TON), the native cryptocurrency of the TON blockchain, which is closely associated with Telegram, experienced a rebound.

After undergoing a sharp decline that began on May 14, TON managed to bounce off the $3.00–$3.05 demand zone, indicating strong buyer interest at that level.

The 4-hour chart shows TON trading at $3.0499 as of May 20, 2025. It continues to trade above the key support zone and is attempting to recover within a rising channel. The price is now encountering resistance at the 50-period Exponential Moving Average (EMA), which is located at $3.1262.

If buyers succeed in pushing the price above this EMA, the next short-term target could be the $3.25–$3.35 range.

The recent recovery follows Telegram’s action to shut down two major digital black markets, which may have helped to stabilize sentiment within the TON ecosystem.

This sequence of events highlights Telegram’s commitment to enforcing its terms of service and the potential knock-on effects such actions can have on associated digital assets.

TON Foundation Appoints MoonPay Co-Founder Maximilian Crown as New CEO

Before that the TON Foundation has appointed Maximilian Crown, co-founder of crypto payments company MoonPay, as its new Chief Executive Officer. This follows a recent internal restructuring.

Crown brings experience in fintech and crypto payments to his role as the foundation scales blockchain adoption by tapping into Telegram’s vast user base.

Just a few weeks ago, TON secured a $400 million funding round from global venture capital firms. This investment is facilitating more aggressive expansion plans and forging institutional partnerships.

As Crown takes the helm, TON aims to boost ecosystem integration. The foundation says it plans to migrate 30% of Telegram’s active users to the TON blockchain by 2028.