TON-USD climbed from $3.156 to $3.24, exhibiting outstanding power with a 2.66% achieve throughout a robust breakout supported by excessive buying and selling quantity, in line with CoinDesk Analysis’s technical evaluation mannequin. The cryptocurrency discovered assist close to the $3.19-$3.20 zone, forming a possible short-term double backside sample that would function a stage for continuation of the broader uptrend.
The CoinDesk 20 — an index of the highest 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and trade cash — is up 1.1% within the final 24 hours.
Technical Evaluation
• TON-USD demonstrated outstanding power over the 24-hour interval, climbing from $3.15 to a peak of $3.24, representing a variety of $0.08 (2.66%).
• The worth motion fashioned a transparent uptrend with greater lows and better highs, culminating in a robust breakout with the very best quantity of the interval (5.46M).
• Key assist established at $3.15-$3.16 held firmly throughout a number of exams, whereas resistance at $3.20 was decisively damaged on excessive quantity, confirming the bullish momentum.
• The following consolidation close to $3.20 after reaching the $3.24 excessive suggests profit-taking however maintains most features, indicating potential for continued upward motion if quantity assist persists.
• Within the final hour, TON-USD skilled important volatility, initially persevering with its upward momentum to achieve a peak of $3.23, representing a 0.5% achieve.
• This bullish pattern reversed sharply, with worth cascading right down to $3.19, marking a 2.7% decline from the height.
• The sell-off was accompanied by excessive quantity, indicating sturdy distribution.
• The worth discovered assist close to $3.19 and staged a modest restoration to shut at $3.2, forming a possible double backside sample.
• This worth motion suggests profit-taking following the sooner breakout, with the $3.19-$3.20 zone now established as a important assist stage for potential continuation of the broader uptrend.
Disclaimer: Components of this text had been generated with the help from AI instruments and reviewed by our editorial group to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
