TON mark rallied virtually 15% and traded above the $6.50 resistance. Toncoin is now showing a number of signs of pattern exhaustion and would possibly presumably unprejudiced appropriate good points.
- Toncoin jumped above the $6.20 and $6.50 resistance ranges.
- The mark is now procuring and selling above $6.50 and the 100-hourly Easy Shifting Common.
- There is a key parabolic curve forming with give a rob to at $6.80 on the hourly chart of the TON/USD pair (info source from Kraken).
- The pair would possibly presumably perhaps start a design back correction if it declines below $6.80 and the $6.60.
TON Tag Reaches $7
Currently, TON mark started a solid elevate from the $5.60 give a rob to zone. It climbed above the $6.20 resistance zone. It gained virtually 15% in a day and outperformed Bitcoin and Ethereum.
Toncoin traded shut to the $7.00 level. A excessive changed into once fashioned at $6.93 and the associated rate is now consolidating good points. It is procuring and selling near the $6.80 zone and properly above the 100-hourly Easy Shifting Common. There’s also a key parabolic curve forming with give a rob to at $6.80 on the hourly chart of the TON/USD pair.
Prompt resistance is near the $6.92 level. The key key resistance is near $7.00. A shut above the $7.00 resistance zone would possibly presumably perhaps spark a solid elevate.
Source: TONUSD on TradingView.com
The next key resistance is near $7.20. If the bulls live in action above the $7.20 resistance level, there would possibly be fundamentally a rally in direction of the $7.55 resistance. To any extent extra good points would possibly presumably send the associated rate in direction of the $8.00 resistance.
Design back Correction In Toncoin?
If Toncoin mark fails to positive the $6.90 resistance zone, it would possibly perchance presumably perhaps start a design back correction. Preliminary give a rob to on the design back is near the $6.80 level and the parabolic curve, below which the associated rate would possibly presumably check the 23.6% Fib retracement level of the upward fling from the $5.61 swing low to the $6.93 excessive.
The next main give a rob to is at $6.25 or the 50% Fib retracement level of the upward fling from the $5.61 swing low to the $6.93 excessive. If there would possibly be a design back spoil and a shut below the $6.25 level, the associated rate would possibly presumably tempo up lower. Within the stated case, the associated rate would possibly presumably perhaps retest the $6.00 give a rob to zone.
Technical Indicators
Hourly MACD – The MACD for TON/USD is now losing tempo within the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for TON/USD is now above the 70 level.
Main Enhance Ranges – $6.80 and $6.60.
Main Resistance Ranges – $6.90 and $7.00.
