According to U.Today, the price of Toncoin (TON) has been experiencing a significant upward trend, recently surpassing several key resistance levels. In a notable move, TON crossed above the 100-day exponential moving average (EMA), which is currently around $6.68.
Toncoin's breakout is a crucial development as it continues to build on its recent gains and withstand market corrections. Over the past few weeks, TON's value has increased by approximately 30%, showcasing a strong upward trend despite overall market volatility. The ability of TON to hold above the 100 EMA suggests that it has the potential to continue its rise.
Looking ahead, the 50-day EMA, trading close to $7.60, will be TON's next primary target. This level is not only a technical resistance but also a psychological marker for traders. If TON successfully moves above $7.60, it could attract more investors and bolster confidence in Toncoin's long-term prospects.
The next significant level to monitor will be around $8, another psychological barrier that could play a crucial role in TON's price action if it surpasses the $7.60 resistance. However, if TON fails to maintain its position above the 100 EMA, it may revert to previous support levels. The 200 EMA, located around $5.69, serves as a vital support level.
Recent price movements indicate that Toncoin is gaining traction, with increasing interest from buyers. The market's consistent performance, even during corrections, reflects a strong underlying demand for TON.
