$TON

Buyers are finding it difficult to push Toncoin above the moving averages, but a small positive is that the bulls have not given up ground to the bears.

This improves the prospects of a rally above the moving averages. If that happens, the TON/USDT pair could rise to $6, where the bears could again mount a strong defense. However, if the buyers force their way in, the pair could rise to $7.

On the downside, if the $5 level fails to hold, the pair could drop to the $4.72 to $4.44 support zone. The buyers are expected to protect this zone with all their might because a break below it will complete a bearish head and shoulders pattern. The pair could then drop to $3.50.