Ton-USD climbed from $ 3,156 to $ 3.24, which showed remarkable strength with a gain of 2.66% below a powerful breakout supported by High Trading Volume, according to Coindesk Research’s technical analysis model. Cryptocurrency found support near the $ 3.19- $ 3.20 zone, forming a potentially short double-bottom pattern that could serve as a level of continuation of the wider uptrend.
Coindesk 20 – an index of the 20 best cryptocurrencies at market value, excluding stableecoins, memcoins and exchange coins – has increased 1.1% over the past 24 hours.
Technical analysis
• Ton-USD demonstrated remarkable strength in the 24-hour period and climbed from $ 3.15 to a highlight of $ 3.24, representing an interval of $ 0.08 (2.66%).
• Price action formed a clear increase with higher and higher heights, culminating with a powerful outbreak with the highest volume in the period (5.46 m).
• Key support established at $ 3.15- $ 3.16 held on during several tests, while the resistance of $ 3.20 was decisively broken at high volume, confirming the bullish momentum.
• The subsequent consolidation near $ 3.20 after reaching $ 3.24 High suggests surplus tags, but maintains most gains, indicating the potential for continued movement upwards if the volume support persists.
• In the last hour, TONT-USD experienced considerable volatility and initially continued its upward momentum to reach a highlight of $ 3.23, representing a gain of 0.5%.
• This bullish trend returned sharply with price cascaded to $ 3.19, marking a drop of 2.7% from the top.
• Sales were accompanied by large volume, indicating strong distribution.
• The price found support near $ 3.19 and staged a modest recovery to close at $ 3.2, forming a potential double bottom pattern.
• This price action suggests surplus tag after the previous breakout, with $ 3.19- $ 3.20 zone now established as a critical support level for potential continuation of the wider Uptrend.
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