🌟 Toncoin (TON) Price Analysis - December 20, 2024 🌟
---
📉 Current Market Performance
Toncoin (TON) slipped below the 50-day SMA ($5.80) on December 18, reaching the critical $4.72 - $4.44 support zone on December 20.
---
🔍 Key Technical Signals
The 20-day EMA ($5.99) has turned downward, and the RSI is in the negative zone, signaling bearish momentum.
A breakdown below the $4.44 support level could trigger a bearish Head & Shoulders (H&S) pattern, potentially driving prices down to $3.50.
---
📊 Recovery Prospects
Buyers are expected to strongly defend the $4.44 support level to avoid a bearish breakout.
Any recovery could face resistance near the 20-day EMA ($5.99).
A break and close above the 20-day EMA would signal waning bearish pressure, potentially driving the pair toward $7.
---
🧐 What to Watch For
1️⃣ Support Test: Watch for how TON performs at the $4.44 level—a break could intensify selling pressure.
2️⃣ EMA Breakout: A move above $5.99 could mark the start of a bullish recovery.
⚡ Trading remains risky, and vigilance is advised as volatility looms in the current market climate!
