Toncoin (TON) has been trading near the moving averages for the past two days, which shows buying by the bulls at lower levels.
TON/USDT Daily Chart | Source: TradingView
The RSI is slowly moving towards the midpoint, signaling that the bearish momentum is weakening. That increases the possibility of a breakout above the moving averages. The TON/USDT pair could rise to $6, which is expected to act as a barrier.
The first sign of weakness would be a close below $5. That could send the pair down to the support zone between $4.72 and $4.44. Buyers are expected to defend this zone aggressively as a break below this zone could start a new downtrend.
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