Resistance

Resistance Dog

The Resistance Dog token, a Ton-based asset, has seen a remarkable surge on the back of increased social media interest following the arrest of Telegram founder Pavel Durov.&nbsp; 
On Aug. 25, Resistance Dog (<a href="https://crypto.news/price/redo/">REDO</a>) experienced a sharp breakout from a symmetrical triangle pattern, with its price skyrocketing over 100% in a single day.&nbsp; 
This surge was triggered by an outpouring of support from the crypto community, particularly after the Ton X account changed its display picture to REDO’s logo to show solidarity with <a href="https://crypto.news/pavel-durovs-arrest-france-toncoin-plunges-20-percent/" target="_blank" rel="noreferrer noopener">Durov</a>. CoinGecko also changed the Ton icon to REDO’s logo. 
Interestingly, many crypto community members followed suit, triggering a rise in REDO’s social dominance. The gesture symbolized a stand against censorship, which REDO embodies, and resonated with the <a href="https://crypto.news/crypto-community-rallies-behind-telegram-founder-pavel-durov-on-heels-of-arrest/" target="_blank" rel="noreferrer noopener">community</a> that views Durov’s arrest by French authorities as an act of suppression. 
Technically, the chart shows that the REDO crypto token price broke out from a narrowing symmetrical triangle formation — a bullish continuation pattern — indicating strong upward momentum.&nbsp; 
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 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/08/REDO-1D-Chart_094939.png.webp"> 
 <img loading="lazy" decoding="async" width="1902" height="825" src="https://crypto.news/app/uploads/2024/08/REDO-1D-Chart_094939.png" alt="REDO token spikes 159% in three days following Durov’s arrest - 14"> 
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 REDO 1D chart – Aug. 27 | Source: <a href="https://www.tradingview.com/" target="_blank" rel="">Trading View</a>
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The breakout was followed by a swift rise in price, reaching as high as $0.9 on Monday, before retracing slightly. The three-day rally, which has triggered a 159% increase, shows significant volatility and heightened trading interest. 
However, the recent pullback shows a retest of the triangle’s upper boundary, which could serve as a support level. If the price holds above this support, further gains could be on the horizon, with potential targets at the recent highs near $0.9 and beyond. 
REDO’s uptrend contrasts TON’s <a href="https://crypto.news/tron-toncoin-daily-active-addresses-surge-amid-price-fall/" target="_blank" rel="noreferrer noopener">collapse</a> in response to Durov’s arrest. The REDO Keltner Channel, which envelopes the price based on volatility, shows that REDO’s price has broken above the upper band, suggesting an overbought condition.&nbsp; 
Also, the Commodity Channel Index is currently at 174.98, confirming the overbought condition. This could imply a short-term consolidation or a slight correction before resuming its upward trend.&nbsp; 
Notably, REDO may face a temporary cooldown, giving the market time to digest the recent gains. At the reporting time, the REDO token has gained by another 3% this morning, currently changing hands at $0.6360. 
REDO’s market cap is hovering over the $65 million mark at the reporting time. 
 Read more: <a href="https://crypto.news/crypto-millionaires-population-up-95-in-one-year-survey-shows/"> Crypto millionaires population up 95% in one year, survey shows </a>

REDO token spikes 159% in three days following Durov’s arrest

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