Toncoin price analysis

Toncoin (TON) broke above the immediate resistance at $2.18 on Oct. 22, indicating that the corrective phase is ending.

TON/USDT daily chart. Source: TradingView

Both moving averages are sloping up, and the RSI is in the positive territory, indicating that the bulls have a slight edge. The TON/USDT pair could rise to $2.31 and then to $2.59. This level is likely to witness strong selling by the bears.

On any dips, the bulls are likely to defend the moving averages. A break and close below this support will indicate that the bulls may be losing their grip. That could pull the price down to $1.89.

#ftx #usdr #avalanche #galxe #DeFiChallenge $BTC $ETH $BNB