The daily chart indicates a bullish trend as Toncoin approaches new highs and targets 1 FIB levels, with a surge of over 270% in the past few days despite Bitcoin's decline below $60,000.
Market dynamics have shifted, with Toncoin maintaining strong upward momentum while Bitcoin slumped.
Toncoin is following an ascending channel pattern, serving as robust support post-consolidation breakout, suggesting continued bullish sentiment.
A bullish pennant pattern has formed, further confirming the continuation of the upward trend.
Oscillators are signaling a potential bearish divergence pattern emerging, indicating a cautionary note despite the overall bullish outlook.
However, the RSI indicates a bullish divergence, potentially propelling Toncoin to test its current all-time high (ATH) and potentially reach new highs around the 1.236 FIB level at $9, surpassing $8.
According to Coingabbar Price Prediction, If the selling pressure persists, TON could seek support around $6, in proximity to the channel's support level.
KEY LEVELS :
RESISTANCE LEVEL : $7.70-$9.00
SUPPORT LEVEL : $5.80-$4.80
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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