Toncoin – Should TON Buyers Finally Go Long Now?

After bouncing back from the $4.8-support level two months ago, TON has been on a rather steep uptrend. The altcoin registered gains of nearly 70% in less than two months to hit a new ATH of $8.24 on 15 June.

TON consistently sailed above the 20-day and 50-day EMAs during this rally, as they offered strong support for over two months. In the meantime, the crypto chalked out a classic ascending channel on its daily chart.

Currently, we can see low volatility in the short term as the price action is in a high liquidity zone. Any close above the middle line of the ascending channel can help the buyers continue their rally in the short term. In this case, the buyers would look to test the $8.2-$8.5 range.

Any close below the ascending channel might position TON for a downside in the coming weeks. Here, the sellers would aim to retest the $6-level.The Relative Strength Index (RSI) continued its trajectory in the bullish zone while showing slight ease in buying pressure. Any decline below the midline would confirm an increasingly bearish edge.

#toncoin #toncoin #US_Inflation_Easing_Alert #MiCA #BinanceTournament