$TON

It closed above the 50-day SMA ($5.21) on November 10, but the bulls are struggling to sustain the higher levels.

The sellers are trying to pull the price back below the moving averages. If they do so, the TON/USDT pair could drop to the $4.72 to $4.44 support zone. This remains the critical zone for the bulls to defend because a break below it will complete a bearish head and shoulders pattern. The downside setup could start a decline to $3.50.

The buyers will have to push and sustain the price above the $6 overhead resistance to invalidate the bearish setup.