As I mentioned in previous analyses, $TON is gaining momentum after Pavel emerged stronger from the process he is going through.
The chart clearly shows the recent recovery process of the TON/USDT pair. We can make a positive analysis based on the following technical data:
1. Start of Uptrend:
The price made a strong bounce from the $4,352 level and is currently at $5,817. The increased trading volume, especially during this rally, suggests that buyers are showing interest in the market and that upward momentum is building.
A positive signal is when the price is above the short-term 7-day moving average (MA7). This indicates that the price is likely to hold at these levels and has potential for further upside.
2. Support and Resistance:
The 5,500 level is currently acting as a strong support level. As long as the price stays above this level, the upside potential can be maintained.
On the upside, resistance appears to be around 6,500. If price can move towards this level and break above it, it will be more likely to reach previous highs around 7,000.
3. Moving Averages (MA):
There is a positive crossover between MA7 (5.539) and MA25 (5.104). A crossover of the short-term moving average above the long-term moving average (golden cross) is generally considered a bullish signal and suggests that the price could go higher.
4. Trading Volume:
Rising volume usually indicates a strong trend. As you can see from the chart, as the price has increased, so has the volume, indicating that the upward movement is reliable and likely to continue.
5. Conclusion and Strategy:
If the price breaks the 6,000 level, this could indicate additional buying opportunities. Below, the 5,500 level should be watched as strong support. If it falls below this level, it would be wise to be cautious, but the current picture maintains its positive outlook.
In this context, technical indicators paint a positive picture for TON coin in the medium term and signal that an upward trend may continue.
