Technical analysis of TON on 23/11/2024

Toncoin has bounced from the moving averages on 21/11, indicating that the bulls are trying to create a higher low.

The 20-day EMA ($5.30) is gradually trending upwards, and the RSI is in the positive zone, suggesting that the advantage is leaning towards the bulls. The TON/USDT pair could rise to the resistance level above $6, an important level that the bears need to defend because if the price breaks and closes above this level, the pair could soar to $7.

If the bears want to regain control, they need to pull the price below the moving averages and test the support zone of $4.72-$4.44.