The past week saw TON through a significant gain as it continues to increase daily. While it appeared super bullish with a V-shape pattern, we may see a shift in the trend soon. Since the price bounced back from a low of $2.36 last week, TON has shown signs of strength following a steady increase in buying volume. While the bears appear temporarily off the market, we can expect serious bleeding when they resume pressure. It is yet to slow down recovery on the daily chart, although has seen a slight rejection and is now looking set for an upsurge. A push above the $4 level should trigger more surges in the coming days as the demand level increases. This could lead to a slight shift in the bearish trend. The V-shaped recovery pattern is a key indicator to pay attention to as it signals a potential bullish move on the daily chart. If it comes into play, we can expect a bigger growth in the coming days. Such a move could bring a complete reversal in the market structure. However, it is important to note that the bears are still in control in the short term. If they step back in action, the price may roll back to the bottom before breaking lower. A solid hold above the bottom level could trigger a bounce with a double-bottom before climbing back. TON’s Key Level to Watch Source: Tradingview Looking back, the recovery appears significant, and from the look of things, TON will likely post more gains soon. The resistance level to watch is $3.9. Overcoming it could send the price to $4.79 and $5.66. The $3.3 level has provided support this week. If the price slips below it, $3.18 and $2.74 are the next levels to watch for a drop. The $2.36 level is considered the last defence line for the bulls in case of more dips. Key Resistance Levels: $3.9, $4.79, $5.66 Key Support Levels: $3.18, $2.74, $2.36 Spot Price: $3.66 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
