Toncoin (TON) bounced off the 20-day EMA ($5.66) on November 26, indicating a shift in sentiment from selling on rallies to buying on dips.
TON/USDT Daily Chart | Source: TradingView
The rising 20-day EMA along with the RSI nearing the overbought zone suggests that bulls are in control. If buyers push the price above $6.60, the TON/USDT pair could rise to $7 and then to $8.29.
Conversely, if bears want to halt the uptrend, they will need to quickly pull the price below the moving averages. If successful, the pair could drop to the important support zone between $4.72 and $4.44.