Toncoin Price Prediction: Ton Jumps 5% As UAE Officials Dismiss Golden Visa Rumors

The Toncoin price has surged 5% in the last 24 hours to trade at $2.83 on an 895% pump in the daily trading volume to $780 million.

UAE Denies Toncoin Staking Link to Golden Visa

The increase in TON price happens as United Arab Emirates authorities have denied claims that staking Toncoin (TON) could make applicants eligible for the country’s golden visa. The Open Network had announced that staking $100,000 worth of TON for three years and a $35,000 processing fee could open the door to a 10-year residency visa.

The speculation gained more attention after Telegram CEO Pavel Durov reshared the announcement on X, though he made no formal comment.

The Emirates News Agency shared a statement from top regulators, including the Federal Authority for Identity, Citizenship, Customs and Port Security, and the Virtual Assets Regulatory Authority. They made it clear that specific rules govern digital currency investments and are not linked to golden visa eligibility.

The golden visa program, introduced in 2019, targets skilled professionals, investors, and entrepreneurs, but crypto holdings are not part of the criteria. Authorities also warned the public to rely only on verified information to avoid falling for misinformation.

Toncoin Price Holds Key Support as Traders Watch for Possible Rebound

Toncoin is currently holding above a crucial support zone between $2.50 and $2.80, which has repeatedly acted as a key barrier against further price declines. The price is currently around $2.83, and many traders are watching this level to see if TON can bounce back after its recent struggles.

After months of trading within a sharp bearish channel, the downtrend appears to have lost momentum, leading to a period of consolidation. This consolidation phase suggests that sellers are losing strength, and the market could be preparing for a potential rebound.

Since breaking out of the bearish channel, TON has mostly been moving sideways, suggesting that selling pressure may be easing. If the price manages to stay above the support zone, it could trigger a rebound towards the $5.00 area.

Toncoin Price Could Rebound to $5

The Relative Strength Index (RSI), a tool that measures market momentum, is currently at 45.51. This indicates that TON is neither overbought nor oversold, and any push above 50 could signal growing bullish momentum.

With rumors claiming that staking TON could make investors eligible for a UAE golden visa. UAE officials denied the claims, but the buzz temporarily pushed TON’s price higher, showing how sensitive the coin is to news.

For now, if TON stays above the support zone, traders expect a possible rebound toward $5.00. But if the price falls below $2.50, more losses could follow.