Despite pessimistic news regarding the Toncoin (TON) and deteriorating major metrics, the TON technical charts exhibit bullish behavior. A higher-high swing price action was witnessed on the daily chart.
The long-term trend-based 50-day and 200-day EMAs are bullish, as the prices are trading on top of them, and the bands are acting as dynamic supports for them.
The other technical tools, including the MACD and RSI, highlight pessimism for the crypto asset. As MACD has formed a bearish cross, and RSI is below 14-SMA. Therefore, if the TON price breaks the trendline below and surpasses the last swing low, the TON price could turn bearish.
On the contrary, if the TON price surges from the upward trendline, it could go to a higher level once it crosses the $8.0 mark.
The long-term trend-based 50-day and 200-day EMAs are bullish, as the prices are trading on top of them, and the bands are acting as dynamic supports for them.
The other technical tools, including the MACD and RSI, highlight pessimism for the crypto asset. As MACD has formed a bearish cross, and RSI is below 14-SMA. Therefore, if the TON price breaks the trendline below and surpasses the last swing low, the TON price could turn bearish.
On the contrary, if the TON price surges from the upward trendline, it could go to a higher level once it crosses the $8.0 mark.