Toncoin [TON]: Telegram-backed token breaks out

The cryptocurrency market displayed notable polarization this week, with clear winners and losers emerging across different sectors.

The cryptocurrency markets displayed some noteworthy polarisation this week, with clear winners and losers emerging across different sectors.

While several tokens managed double-digit gains despite broader market weakness, others continued their downward trajectories, highlighting the importance of selective positioning in the current trading environment.

This week’s biggest winners

Toncoin [TON]: Telegram-backed token breaks out

Toncoin [TON] took the crown with a 20% gain, recovering from $2.90 to $3.47.

The Telegram-backed cryptocurrency showed strength as it emerged from consolidation to continue the breakout that began earlier in March.

The rally unfolded gradually, with TON building a support base around $2.90 during the first half of the week.

Momentum picked up significantly on the 15th of March as the token pushed through key resistance at $3.00, sparking a combination of fresh buying and short covering.

The most dramatic price action occurred on the 16th of March, when TON surged from $2.95 to a weekly high of $3.60 in a single session, marking its largest single-day gain in over three months.

Trading volume also spiked dramatically during this move, reaching $7.16 million—more than triple the average daily volume in recent weeks.

Technical indicators have turned firmly bullish, with the RSI climbing above 70 for the first time since December.

While this suggests slightly overbought conditions, the strong volume backing the move indicates substantial conviction behind the rally.

The weekly close at $3.47 places TON above several key resistance levels that had previously capped advances since January.

This technical breakout, combined with increasing network activity on The Open Network blockchain, suggests potential for continued upside momentum.

For traders looking ahead, $3.60 now represents the immediate resistance, with a break above potentially targeting the $4.00 psychological level.

Meanwhile, the newly established support zone between $3.30-$3.40 should be closely monitored for any signs of weakness.

Kava [KAVA]: DeFi platform shows resilience

Kava [KAVA] follows closely with the second-highest gains this week, rising 18% from $0.42 to $0.49.

The DeFi platform token defied broader market weakness, showing resilience as it established a clear uptrend throughout the week.

The rally unfolded in two distinct phases, with KAVA initially climbing from $0.42 to $0.43 between the 10th and 12th of March before consolidating in a tight range.

The decisive breakout occurred on the 14th of March as KAVA broke through resistance, surging 10% in a single session and triggering significant volume expansion.

After a brief period of sideways movement around $0.47, buyers returned on the 16th of March, pushing KAVA to fresh monthly highs at $0.49.

The token’s relative strength index remains elevated but not overbought, suggesting potential for continued upside.

Technical analysis shows KAVA has broken its multi-week resistance level at $0.46, which should now serve as solid support.

With increasing development activity on the Kava platform, this rally appears fundamentally supported beyond mere price speculation.

Story [IP]: Gaming token continues winning streak

Story [IP] continues its impressive run this week, adding 15% to close at $5.65. The blockchain gaming token has now posted gains for several weeks, cementing its position as one of 2024’s strongest performers.

The rally unfolded in a stair-step pattern, with IP building steady momentum through the 10th-12th of March before exploding higher on the 13th of March.

This breakout session saw the token surge from $5.50 to a weekly high of $6.40, representing a 16% intraday gain.

While profit-taking emerged above $6.30, triggering a partial retracement, buyers maintained support above the critical $5.60 level. This price action suggests healthy consolidation rather than trend reversal.

Trading volume remained consistently high, particularly during the 13th of March surge, indicating genuine market interest beyond speculative activity.

The token’s resilience in maintaining most gains despite broader market weakness highlights exceptional relative strength.

For traders eyeing potential entries, the $5.60 level represents significant support, with a rebound from this zone potentially targeting the recent highs above $6.30.

Other notable gainers

Beyond the top performers, the broader market saw several jaw-dropping moves.

Doginme [DOGINME] led the top 1,000 tokens with an extraordinary 346% gain, while Keyboardcat [KEYCAT] and Ancient8 [