Toncoin peaked at $7.67, then corrected to below $5.00 before stabilizing around $4.60.
Recently, it started a new uptrend by breaking above the $6.00 resistance and the 50-day simple moving average.
On the daily chart, Toncoin broke out of a significant declining channel by surpassing resistance at $6.10.
It reached the upper resistance zone, suggesting a final barrier before a potential new all-time high.
The key question: Will Toncoin form a double top or achieve a new all-time high?
Sustaining bullish momentum could propel Toncoin beyond this level towards $8 and $10.
According to Coingabbar Price Prediction, If Toncoin fails to surpass the $7.67 mark, it could result in the formation of a double-top pattern, with the neckline identified at $4.60.
KEY LEVELS :
RESISTANCE LEVEL : $8.00-$10.00
SUPPORT LEVEL : $6.40-$5.00
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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