Why Ton Coin is pumping and why traders should be careful

By now everyone must have known about what is currently going on in the crypto market, starting from $BTC beginning to show strong movement to Telegram coin, popularly known as Toncoin, now moving in a rapidly bullish manner. This has made both new and old investors ask different questions about the sudden move and whether it will be short-term or long-term.

First of all, the main reason why Toncoin started pumping was because of the recent updates involving Telegram replacing the TON Foundation as the driving force behind TON and becoming its largest validator, with 2.2M TON staked. This update has been positively affecting many coins within the ecosystem, including DOGS, CATI, Notcoin, and others, even if you bought 1k worth of ton, you could have $650 profit by now.

Secondly, traders still need to be careful because this momentum may not last for long, and you do not want to become exit liquidity for the market. In my own DYOR, I already spotted a resistance around $3.5. If price eventually reaches that level and fails to break above it, then in my view, Toncoin could pull back from there, and this is where i will take my future trade. What do you think?