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Mastering Crypto

09/09 08:54

Toncoin price analysis

Toncoin (TON) attempted a rebound on Sept. 6, but the long wick on the Sept. 7 candlestick shows that bears continue to sell on rallies.

The 20-day EMA ($1.68) remains the key level to keep an eye on in the short term. If the price rebounds off the 20-day EMA, the bulls will again attempt to drive the TON/USDT pair above the overhead resistance at $2.07.

Contrarily, if the price slips below the 20-day EMA, it will suggest that the traders are aggressively booking profits. The first stop on the downside is at the breakout level of $1.53 and then the 50-day SMA ($1.44).1694249774931.png

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