Ton-USD rose from $ 3,156 to $ 3.24, showing a notable force with a gain of 2.66% during a powerful breakdowed backed by a high volume of negotiation, according to the technical analysis model of Coindesk Research. The cryptocurrency found support near the area of $ 3.19- $ 3.20, forming a possible double-term double background pattern that could serve as a level for the continuation of the broader upward trend.
Coindeesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stable, memecoras and exchange currencies, has increased 1.1% in the last 24 hours.
Technical analysis
• TON-USD demonstrated a remarkable force during the 24-hour period, rising from $ 3.15 to a peak of $ 3.24, which represents a range of $ 0.08 (2.66%).
• The price action formed a clear ascending trend with higher and higher minimums, which culminated in a large break with the highest volume of the period (5.46m).
• The key support established at $ 3.15- $ 3.16 was firmly remained for multiple tests, while the resistance to $ 3.20 was decisively broke in high volume, confirmed by the bullish impulse.
• The subsequent consolidation about $ 3.20 after reaching the maximum of $ 3.24 suggests obtaining profits, but maintains most of the profits, which indicates potential for a continuous movement up if the volume support persists.
• In the last hour, Ton-UD experienced significant volatility, initially continuing its ascending impulse to reach a peak of $ 3.23, which represents a 0.5%gain.
• This bullish trend was reversed sharply, with a waterfall price up to $ 3.19, marking a 2.7% decrease from the peak.
• The mass sale was accompanied by high volume, indicating a strong distribution.
• The price found support about $ 3.19 and organized a modest recovery to close at $ 3.2, forming a possible double bottom pattern.
• This price action suggests a profits after the previous breakup, with the $ 3.19- $ 3.20 zone now established as a critical support for the continuous potential of the broader upward trend.
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