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TON Bulls Break Over Key Resistance, Resisting Bear Tide


Toncoin (TON) market’s negative momentum was under control at the start of the day until the market found support at $2.27. Bulls, on the other hand, flooded in, sending prices up 0.84% to $2.31 as of press time.

Because of this positive domination, market capitalization and 24-hour trading volume both increased by 1.09% to $2,820,300,932 and 8.04% to $39,137,729, respectively, demonstrating the recent surge in market excitement.

ChunkyCoins png crypto image for TON Bulls Break Over Key Resistance, Resisting Bear Tide

TON/USD 24-hour price chart (source: CoinMarketCap)

Buying pressure is now greater than selling pressure in the TON market, as shown by the Relative Strength Index (RSI) crossing over its signal line at 60.09. This movement lays the stage for a future bull run, indicating that a price increase for TON is coming as more traders enter the market.

The Elder Force Index (EFI) movement in the positive zone at 326, indicates that bulls have the upper band in the market. This spike supports the bullish view in the TON market, shining a light on a lengthy bull run if bulls battle on.

With a score of 80.00, the stochastic RSI suggests that the TON market is overbought. This motion cautions traders to be watchful in light of the possibility that the current bullish trend may be drawing to a close in the near term if bulls lose hold.

ChunkyCoins png crypto image for TON Bulls Break Over Key Resistance, Resisting Bear Tide

TON/USD 2-hour price chart (source: TradingView)

Both the True Strength Index (TSI) and the Know Sure Thing (KST) advance over their signal lines, adding to the perception of a prolonged bull run, with values of 12.9202 and 9.7394, respectively. This movement indicates that the bulls have the upper hand in the TON market, implying that the price might rise higher.

ChunkyCoins png crypto image for TON Bulls Break Over Key Resistance, Resisting Bear Tide

TON/USD 2-hour price chart (source: TradingView)

To witness more price increases in the TON market, bulls need to push prices higher and protect the current resistance level.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.


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