Will $TON continue its rally? - AMBCrypto Analytics

Toncoin [TON] has demonstrated impressive strength, rebounding from its $4.6 support level amid a broader altcoin market rally. Now trading at $6.7, TON is testing a 3-month high, supported by a breakout from the descending channel it had been trapped in since September.

A pivotal golden cross—the 20-day EMA crossing above the 200-day EMA—signals the potential for a long-term uptrend. Currently, TON maintains its position above the 20, 50, and 200-day EMAs, reinforcing bullish sentiment. The next significant hurdle for the bulls is the 50-day EMA crossing above the 200-day EMA. Breaking key resistance at $6.8 and $7.6 could pave the way for a sustained rally.

On the flip side, failure to hold momentum might see TON retesting support at $6.1, which aligns with a liquidity zone. A bounce from this level could renew buying interest.

With the RSI nearing 69, TON edges toward overbought territory. A break below 70 might spark consolidation or a minor pullback, offering traders a potential re-entry point.