bullish

Toncoin

The post <a href="https://coinpedia.org/price-analysis/despite-a-bearish-sunday-ton-price-aims-for-10-ahead/" rel="noopener noreferrer nofollow">Despite A Bearish Sunday, TON Price Aims For $10 Ahead</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a bullish reversal from $5 asserting dominance over a psychological mark, Toncoin shows resilience in a bear market. However, with a recent pullback in the same reversal rally retesting crucial support, the TON price experiences massive pressure. Will the uptrend in Toncoin survive this pullback phase?
<h2 class="wp-block-heading" id="h-toncoin-price-performance">Toncoin Price Performance</h2>
With a V-shaped reversal from the $5 mark, the TON price avoids staying under the 200-day exponential moving average. The reversal rally accounts for a 22% surge in just two days to surpass the $6 mark.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd97bxptvfXC_60-OZYp9Eb9YGl7X3YVeI7Cy-vo6HsyY1QnJHDF0BFRMNfyrvfLv7BoBHCh-CvMVBT9Dh1AwiANfeVvPFbBExn6oG62CIfIi8jyZ2Ld69ayGDThDobyX9qlVB_a9Jf7X_lWMok8CS2yaxe?key=dnV_SI2pl_0WFUiAdjEEuQ" alt="">
</figure>
<a href="https://www.tradingview.com/x/6QiNJVhz/" rel="noopener noreferrer nofollow">Tradingview</a>
However, the uptrend in TON prices failed to exceed the 50-day EMA, resulting in a crash on Sunday. In confluence with the broader market, Toncoin drops by 6.90% to complete an evening star pattern.&nbsp;
Currently, the TON price trades at $6.28 with an intraday growth of 1.13%, revealing the bullish attempt to avoid a bearish start to the week. As the buyers hold the downtrend to avoid losing $6, the uptrend chances hang on the broader market movement.&nbsp;
Technical indicators:
EMA: The declining 50D EMA acts as a dynamic resistance and warns of a death cross with the 200D EMA.&nbsp;
MACD: The bullish crossover in the MACD and signal lines tease an uptrend continuation as the positive histograms resurface above the zero line.
<h2 class="wp-block-heading" id="h-will-toncoin-hit-10">Will Toncoin Hit $10?</h2>
In the daily chart, the trend-based Fibonacci retracement reveals the ongoing correction hanging at the 23.60% level at $6.21. As the pullback phase comes as a retest, the buyers maintain an optimistic view of Toncoin.&nbsp;
In the short term, the 50D EMA breakout will be a price action confirmation for a bullish trend continuation.
With a post-retest rally, the TON price could aim for the $7.68 breakout run if the broader market recovers. Hence, with a breakout run, the Toncoin prices could continue to reach the $10 milestone.

Despite A Bearish Sunday, TON Price Aims For $10 Ahead

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