Toncoin (TON), the cryptocurrency associated with Telegram, has recently experienced significant volatility, dropping below the critical $3.00 support level. This decline coincides with broader market uncertainties and controversies surrounding Telegram’s founder, Pavel Durov.
Toncoin’s Price Volatility
As of May 19, 2025, Toncoin’s price fell to approximately $2.94, marking a 7.55% decrease from the previous day’s high of $3.18. This drop breached the psychological $3.00 support level, a threshold closely watched by traders. Despite this decline, TON showed signs of recovery, forming a V-shaped reversal pattern and gaining 1.4% in the last hour, rising from $2.89 to $2.93 .
Technical analysis indicates that TON has been trading within a descending channel, characterized by consecutive lower highs and lows. A significant volume spike of 4.43 million TON during the final trading hour suggests potential capitulation, which could precede a trend reversal. The $2.88–$2.90 zone now represents a crucial area to monitor for potential support .
Political Controversy Involving Telegram
Telegram’s founder, Pavel Durov, recently alleged that Nicolas Lerner, head of France’s foreign intelligence agency (DGSE), requested him to ban conservative Romanian voices ahead of the country’s presidential elections. Durov claims he refused this request, emphasizing his commitment to free speech .
The French government has categorically denied these allegations, stating that their discussions with Durov focused solely on preventing terrorism and child exploitation . This controversy has raised concerns about potential political interference in digital platforms and could impact investor confidence in the TON ecosystem.
Market Outlook and Future Predictions
Despite recent setbacks, some analysts remain optimistic about Toncoin’s future. According to Changelly, crypto analysts expect that in May 2025, the TON price might fluctuate between $3.61 and $6.16 . Furthermore, CoinCodex predicts that TON could reach a price of $3.93 by May 20, 2025, representing a 29.79% price increase in the next five days .
However, it’s important to note that these predictions are speculative and subject to market conditions. The recent price drop and political controversies may continue to exert downward pressure on TON’s price in the short term.
Final Thoughts
Toncoin’s recent dip below the $3.00 support level highlights the cryptocurrency’s vulnerability to both market dynamics and external political factors. While technical indicators suggest potential for recovery, ongoing controversies surrounding Telegram and broader market uncertainties may continue to influence TON’s performance. Investors should closely monitor these developments and exercise caution when considering positions in Toncoin.
