$TON

It has been trading above the $6 resistance, but the bulls are facing selling pressure at $6.61. A small positive is that the bulls have not given up much ground to the bears.

The 20-day EMA ($5.80) is sloping up, and the RSI is close to the overbought zone, indicating that the path of least resistance is to the upside. If the buyers push the price above $6.61, the TON/USDT pair could rally to $7. A break and close above $7 could open the doors for a rally to $8.29.

Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will indicate that the bulls are losing their grip.