Telegram's GRAM Token Plunges Amid Apple's Removal of Messaging App
The price of Telegram's GRAM token fell on Tuesday due to Apple's decision to remove the messaging app from its iOS App Store worldwide. The reason for this move is unclear, and neither Apple nor Telegram has issued a statement. As a result, the GRAM token dropped by 3% at press time, briefly touching $1.29.
From a technical perspective, the price trend of GRAM shows a falling wedge pattern on the daily chart, indicating bearish momentum with further downside room before reaching oversold conditions. A decisive close above the overhead trend line near $1.44 could open the path toward the center pivot and R1 pivot levels at $1.53 and $1.71, respectively.
On the other hand, Solana (SOL) has emerged as a top-performing crypto on Tuesday, extending its 5% gains from the previous day. The token's price held steady amid emerging bullish signs, including BlackRock's filing to issue tokenized fund shares on the Solana network and the ongoing Double Disinflation Proposal.
Algorand (ALGO) also rose on Tuesday, with a 2% gain as of press time. Momentum shows early signs of recovery, with the MACD rising above its signal line and turning the histogram reading positive while the RSI climbs to 63, inching toward the overbought area.