TON technical analysis May 30, 2024

Toncoin (TON) has found support at the moving averages, but the bulls are struggling to initiate a strong recovery from it.

The buyers will have the upper hand if they push and sustain the price above $6.73. If they do that, the TON/USDT pair could start to rally towards the resistance at $7.67. This is an important level for the bears to defend as a break above it would signal a continuation of the uptrend.

If the bears want to stop the rally, they will have to quickly drag the price below the $6 support. The pair could slide to $5.50 and then to strong support at $4.72.