Toncoin (Ton) starts to make waves again and shows signs of renewed strength after successfully broken a long -term descending channel on the daily graph. This breakout marks a crucial moment for token, which may indicate the end of the recent downward trend and points in the early stages of a new upward trend.
Because the cryptomarkt shows signs of renewed power, Toncoin seems to position itself as one of the striking artists of this emerging cycle. Whether this outbreak marks the beginning of a persistent upward trend or confronted with temporary headwind will depend on both technical follow -up and a broader market sentiment.
A potential upward trend in the making
According to profit demon in a recent Post on XToncoin shows a considerable strength by staying on his daily graph above the falling channel. This technical education is crucial because it indicates a shift in market dynamics after a period of weakness and decline.
Profit Demon noted that Ton had previously had to deal with a sharp correction. However, the last price action indicates a recovery, whereby Toncoin finds solid support at an important level. This level now serves as a critical basis and offers the potential for a new upward move.
He further emphasized that if the bullish momentum continues to grow, Ton can focus on various important resistance levels. With the current market sentiment for a recovery, the price of Toncoin can rise to the level of $ 4.10. A successful outbreak above this figure would solidify the bullish trend and mark it to $ 4.90 and $ 5.60.
Can Toncoin support current trends and activate a rally?
For Ton To keep his rally, the relative strength index (RSI) plays a key role. The RSI must remain within the optimum range of 40 to 70, so that overbought conditions above 70 are avoided. If the RSI remains above 50 and outside the overbought area, Toncoin will have room for further appreciation. An outbreak above the most important resistance levels, while keeping the RSI in this reach would strengthen the bullish case.
The advancing average convergence -divigence (MACD) is another critical indicator to check. The MACD has currently shown signs of bullish divergence, which suggests that the momentum is shifting in favor of the bulls. To continue the rally, the MACD line must remain above the signal line, which confirms that buying pressure is larger than the sales pressure.
Finally, volume analysis is essential to confirm the strength of the price movement. A rally that is supported by increasing volume signals that is supported by the real demand and a temporary peak. To maintain an upward movement, the trade volume must rise as Ton breaks through resistance levels. Higher volume indicates real interest from traders, who reinforces the trend, while a lower volume can suggest a lack of conviction, which limits the lifespan of the rally.
