Currently, Toncoin ($TON

) is hovering below the moving average, but it is worth noting that the bears have not yet been able to push the price down to the important support level of $4.72. This shows that selling pressure has weakened at lower levels, creating room for a recovery.

On the daily chart of the $TON /USDT pair (Source: TradingView), the bulls may soon attempt to push the price back above the moving average, triggering a new rally. If successful, the price could reach $7, with initial resistance at $6, but this level is unlikely to hinder the upside for long.

Conversely, if the price turns back from the moving average and breaks below $5.10, this will demonstrate that the bears still have the upper hand. TON/USDT could then continue to slide down to the strong support zone from $4.72 to $4.44.