Toncoin (TON) was among the strongest movers on Wednesday after markets reacted positively to news of a partnership with Telegram. According to the report, the agreement will make the token available to more than 800 million Telegram Wallet users, a development that boosted optimism around broader exposure and adoption.
In price action, TON/USD climbed sharply after trading as low as $1.73 on Tuesday. The token later reached an intraday high of $1.95 on Wednesday, marking a gain of as much as 13% and bringing it close to a recent peak of $2.05. Some of those gains later faded, however, with TON last seen around $1.93 as momentum cooled near resistance.
TON Faces Resistance Before a Clear Break Above $2
On the technical side, the rally pushed the relative strength index, or RSI, into contact with resistance around the 66.00 level. That failed breakout appears to have slowed the advance in the short term. Based on the chart structure described in the report, TON may need a decisive move above that RSI ceiling before it can sustainably break through the $2.00 level.
XLM Under Pressure After Breaking Below Support
By contrast, Stellar (XLM) was one of the session’s weakest performers, falling by more than 8%. XLM/USD dropped to $0.1195 on Wednesday, less than 24 hours after trading as high as $0.1318. The move marked a third consecutive daily decline and pushed the token below the important $0.1200 floor.
The sell-off coincided with the RSI failing to hold above support at 49.00. Price strength was reported at 44.53, with the next visible zone of stability seen near 37.00. If that level is tested, the report suggests XLM could be trading below $0.1100. Overall, TON benefited from partnership-driven momentum, while XLM remained under clear technical pressure.