Despite the market downturn, Toncoin is expected to break through the $10 mark! Is this bull market about to restart?
Despite the overall weak market trend last Sunday, the price of Toncoin (TON) still shows strong rebound potential. Current technical indicators and market trends show that the price of TON is expected to continue to climb, aiming at the psychological mark of $10.
Starting from the key support level of $5, the price of Toncoin has made a V-shaped reversal and quickly rose 22% in two days, successfully breaking through $6. However, due to the failure to break through the 50-day exponential moving average (EMA), Toncoin pulled back last Sunday, falling 6.90%, forming an evening star pattern. Currently, the price of TON is stable at $6.28, with a slight increase of 1.13% on the day, showing that market buyers are trying to stabilize the price and avoid further declines.
EMA: The 50-day EMA continues to fall as a dynamic resistance level, while the 200-day EMA is about to have a "death cross", and we need to be vigilant about its potential impact on the market outlook. MACD: The MACD indicator and signal line have shown a bullish crossover, and the positive histogram has reappeared above the zero line, suggesting that the upward trend may continue.
Can Toncoin reach $10?
In the daily chart, the Fibonacci retracement of the trend shows that the price of TON is currently near the 23.60% retracement level ($6.21). The pullback at this stage is seen as a retest of the previous rise, and the market sentiment remains optimistic. If it can break through the 50-day EMA, Toncoin is expected to continue to rise, first challenging the resistance level of $7.68, and then hitting the important psychological level of $10 against the backdrop of market recovery.
Despite the current market environment, Toncoin still shows strong upside potential. With the positive performance of key technical indicators and the shift in market sentiment, TON's rebound may continue to climb, with the target directly pointing to $10. Want to seize this opportunity? Follow Boshi and go deep into the market with me to discover the next wealth growth point!
Conclusion: Toncoin's rebound is unstoppable, and the $10 target is just around the corner! Follow Boshi, keep abreast of market trends, explore the next investment opportunity with me, and make steady profits!
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