TON Price Surges Above Key Resistance Levels
If youโve been following TON coin, youโll be pleased to know that the price has recently surged above some critical resistance levels. Here are the key highlights:
- TON coin has jumped above the $6.20 and $6.50 resistance levels, showcasing significant strength in the market.
- The price is currently trading above $6.50 and the 100-hourly Simple Moving Average, indicating a bullish trend.
- A key parabolic curve is forming, with strong support at $6.80 on the hourly chart of the TON/USD pair sourced from Kraken.
- However, a downside correction could be on the horizon if the price dips below $6.80 and $6.60.
TON Price Reaches New Heights
If youโve invested in TON coin, youโll be pleased to hear that the price has hit impressive new highs. Hereโs what you need to know:
TON price has experienced a significant uptrend starting from the $5.60 support level, breaking through the $6.20 resistance zone in the process.
The coin surged almost 15% in just one day, outperforming major cryptocurrencies like Bitcoin and Ethereum.
Currently, TON coin is trading close to the $7.00 level, with a recent high at $6.93. The price is consolidating its gains around the $6.80 zone, comfortably above the 100-hourly Simple Moving Average.
A crucial parabolic curve is emerging, providing support at $6.80 on the hourly chart of the TON/USD pair.
Key Price Levels to Watch
As a TON coin investor, keep an eye on these crucial price levels that could impact the future trajectory of the coin:
The immediate resistance lies near $6.92, with a vital hurdle at $7.00. A breakout above the $7.00 mark could trigger a significant uptrend.
The next major resistance after $7.00 is at $7.20. If buyers maintain control above this level, a rally towards $7.55 and potentially $8.00 could be on the cards.
Potential Downside Correction
Despite the positive price movement, thereโs always a possibility of a downside correction in the volatile crypto market. Here are some key levels to watch:
If TON coin fails to surpass the $6.90 resistance zone, a corrective move might be initiated. The initial support is at $6.80, followed by the parabolic curve. A break below these levels could lead to a test of the 23.6% Fib retracement level.
For a more significant correction, watch out for the $6.25 support or the 50% Fib retracement level. A close below $6.25 could trigger further downside momentum, possibly revisiting the $6.00 support zone.
Technical Indicators for TON coin
For those interested in the technical aspects of TON coinโs price movement, here are some essential indicators to consider:
Hourly MACD: The MACD for TON/USD is showing a slowdown in bullish momentum.
Hourly RSI: The RSI for TON/USD is currently above the 70 level, indicating potential overbought conditions.
Keep an eye on these major support and resistance levels to gauge the future direction of TON coin:
- Major Support Levels: $6.80 and $6.60
- Major Resistance Levels: $6.90 and $7.00
Sources: TONUSD on TradingView
Hot Take: Stay Informed, Stay Ahead ๐
As a savvy crypto investor, staying informed about key price levels and technical indicators is essential to making sound trading decisions. Keep a close watch on TON coinโs price movements to capitalize on potential opportunities in the market. Remember, volatility is inherent in the crypto space, so always be prepared for price swings in either direction!
Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding.