Toncoin price analysis
Toncoin (TON) has been trading near the 20-day EMA ($5.46) for the past two days, indicating a tough battle between the bulls and the bears.
The flattening 20-day EMA and the RSI near the midpoint do not clearly favor either the bulls or the bears. If the price turns up from the 20-day EMA and breaks above the 50-day SMA ($5.82), it will signal the start of a strong recovery. Above $6, the TON/USDT pair may travel to $7.
Contrarily, if the price skids below the 20-day EMA, the selling may pick up, and the pair could plummet to the $4.72 to $4.44 support zone.
Cardano price analysis
Cardano (ADA) has formed a descending triangle pattern, which will complete on a break and close below $0.31.
If that happens, the ADA/USDT pair is likely to dip to $0.24. This is an essential level to watch out for because if it cracks, the selling could intensify, and the pair may enter a free fall toward $0.20.
If bulls want to prevent the decline, they will have to quickly propel the price above the downtrend line. That will invalidate the bearish pattern, resulting in a possible short squeeze. The pair could then attempt a rally to $0.40 and later to $0.45.
Avalanche price analysis
The bulls are struggling to push Avalanche (AVAX) above the resistance line of the descending channel, but a positive sign is that they have not allowed the price to dip below the 50-day SMA ($22.82).
The bulls will again try to drive the price above the channel’s resistance line. If they succeed, the AVAX/USDT pair could rally to the breakdown level of $29 and thereafter to $33.
Contrarily, if the price continues lower and breaks below the 50-day SMA, it will signal that the bulls have given up. That may drag the price down to the solid support at $19.50. The bulls are expected to vigorously defend this level.
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