Toncoin has bounced off the moving averages on 11/21, indicating that the bulls are trying to create a higher low.

TON/USDT daily chart | Source: TradingView

The 20-day EMA ($5.30) is gradually sloping upwards, and the RSI is in the positive zone, indicating that the advantage is leaning towards the bulls. The TON/USDT pair could rise to the resistance level above $6, a critical level that the bears need to defend because if the price surpasses and closes above this level, the currency pair could surge to $7.

If the bears want to regain control, they need to pull the price below the moving averages and test the support zone of $4.72-$4.44.

#MarketDownturn $TON