Toncoin price analysis

The bears tried to pull Toncoin (TON) below the uptrend line on June 11 but the bulls held their ground.

TON/USDT daily chart. Source: TradingView

The upsloping 20-day EMA ($6.88) and the RSI in the positive zone suggest that the bulls have an edge. Buyers will try to push the price above the overhead resistance of $7.67. If they can pull it off, the TON/USDT pair may surge to $10.

Instead, if the price turns down from $7.67, it will signal that bears are active at higher levels. That will increase the likelihood of a drop below the uptrend line. Such a move will invalidate the bullish ascending triangle pattern setup and sink the pair to $6.