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07/08 15:30

Toncoin Breaks Trendline, Sparks Bullish Reversal

Toncoin Breaks Trendline, Sparks Bullish Reversal Hopes

Then a pullback followed, with Toncoin briefly jumping to $3.06, suggesting buyers were keeping a close eye on lower levels. However, that optimism quickly faded.

A later profit-taking spurt flattened the bounce and sent prices down to support. Even with this reversal, TON has been stable and is currently hovering between $2.75 and $2.92.

Technical analysis reveals important information. The downtrend line, which has been at the top of bullish attempts in the past, was recently broken by a sharp move from $2.71 to $3.06.

This break is a sign of a change in sentiment and highlights the trend reversal. Moreover, volume has been healthy throughout the consolidation, ensuring healthy market participation.

 Key support is now comfortably established between $2.85 and $2.90, in a zone that is still experiencing buying pressure. This is increasingly becoming the determining factor for determining TON's next move.

Resistance, on the other hand, remains between $3.10 and $3.20, a zone that the coin has already rejected more than once.

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