Altcoins
Will TON price maintain an uptrend?
Cryptocurrency markets crashed again over the weekend, wiping out all the gains they had made just before the start. While the Bitcoin Price seems to be preparing to test lower targets, Toncoin is preparing to reach lost levels. If the Bulls regain their dominance, then TON price is likely to rise and head towards the current ATH above $8.
Toncoin price has shown immense strength in the last two months and despite the prevailing bearish influence, the bulls have managed to maintain the strength. Currently, the price has broken below the required range, which has triggered bearish alarms. However, the trade setup suggests that the price continues to remain under the bullish influence, aiming to reach a new ATH this month.
TON price is testing one of the major resistances after rebounding from the temporary lows that occurred during the last trading day. The price showed a false out in early June and therefore, the levels are expected to recover within the range and show another false out soon. However, with this, it might enter one of the crucial resistances around $7.25-$7.3 which might push the prices towards $7.65.
However, the trend of the RSI raises concerns about the upcoming price action as it consistently forms lower lows and lower highs. Therefore, the next two hours could be crucial as a failure to hold $7 could trigger a new bearish case that could even extend to $6.1. However, if the RSI rises above the average, the bearish trajectory could be crushed, paving the way for a new upward phase.