Toncoin rose 2.23% to $3.25 in 24h, driven by technical momentum, ecosystem upgrades, and broader crypto market tailwinds.
Technical breakout above $3.18 Fibonacci resistance
Tolk smart contract upgrade boosting developer sentiment
Market-wide liquidity as crypto total cap nears $3.88T
Deep Dive
1. Primary Catalyst: Tolk Smart Contract Upgrade
The TON Foundation launched Tolk, a new programming language replacing FunC, on July 19. Key details:
40% gas savings for developers (Anatoly Makosov)
Modern syntax designed for TON’s asynchronous architecture
Initial selloff (-1.73% on July 19) reversed as traders priced in long-term efficiency gains for DeFi/gaming apps
2. Technical Context
TON reclaimed critical levels:
$3.18 (23.6% Fibonacci retracement)
$3.26 pivot point (current price: $3.25)
Indicators show bullish bias:
RSI 14 at 69.62 (approaching overbought but not extreme)
MACD histogram +0.045 (bullish momentum)
Trading volume surged 47.27% to $238M, confirming participation
Conclusion
TON’s rebound reflects optimism about its developer ecosystem and technical strength, though overbought risks loom near $3.35 (July 18 high).
Will TON capitalize on Telegram’s 1B-user distribution network to sustain momentum?