The bulls will have to defend the 20-day EMA ($5.44) if they want to start a sustained recovery. If the price rebounds off the 20-day EMA and breaks above the 50-day SMA, it will suggest that buyers have the upper hand. The TON/USDT pair could rally to $7, where the rally could hit a snag.
Conversely, if the 20-day EMA breaks, the pair is likely to retest the crucial support near $4.72. A break and close below $4.44 could start a fresh downtrend towards $3.50.
