Toncoin
Established strong support for $ 2.94- $ 2.96 before making a crucial movement upwards, demonstrating resilience, even after a sharp withdrawal, according to Coindesk Research’s technical analysis model.
The token has increased by 1.5% over the last 24 hours underpinning Coindesk 20 – an index for the 20 best cryptocurrencies at market value, excluding stableecoins, memcoins and exchange coins – which has increased 3.6%.
Technical analysis
• Price formed a solid support zone for $ 2.94- $ 2.96 early in the period, followed by a crucial breakout of $ 3.00.
• Significantly above average volume (1.87 m and 1.54 m) supported the initial outbreak.
• Despite a sharp withdrawal to $ 2.98 with the highest volume (2.97 m), buyers returned quickly.
• A strong consolidation pattern formed and establishes support for $ 2,985.
• High volume (272,668 units) triggered the last outbreak over $ 3.00.
• New support zone established at $ 3.00- $ 3.01, confirming the strength of Uptrend.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
