What You Should Know
- TON-USD has climbed by 2.66% to $3.24 following high trading volume and a strong breakout.
- The cryptocurrency found a support level near $3.19-$3.20, indicating a potential double bottom pattern.
- The CoinDesk 20 index has risen by 1.1% over the past 24 hours, reflecting overall market gains.
Analysis of the Recent Trend
- TON-USD advanced from $3.156 to $3.24, showcasing notable strength through a 2.66% gain during a breakout characterized by substantial trading volume, as outlined by CoinDesk Research’s analysis.
- Support levels were identified near the $3.19-$3.20 region, forming a potential double bottom that may suggest continuation of a broader upward trend.
Technical Insights
- During 24 hours, TON-USD marked a substantial increase, rising from $3.15 to a peak of $3.24, representing a variation of $0.08 (2.66%).
- The price movement established an upward trajectory marked by higher lows and highs, culminating in a major breakout characterized by peak volumes of 5.46 million.
- The established key support at $3.15-$3.16 effectively held during tests, while resistance at $3.20 was broken decisively on the basis of high volume, confirming bullish sentiment.
- Following the peak, a consolidation phase at $3.20 accompanied profit-taking but retained most gains, indicating potential for sustained upward movement if volume sustains.
- In the last hour, TON-USD witnessed significant fluctuations, initially continuing upward momentum to reach $3.23, before a sharp decline down to $3.19, establishing a 2.7% loss from the peak.
Disclaimer: Parts of this article were generated with the assistance of AI tools and have been validated for accuracy and adherence to editorial standards.
