TON Jumps 4.1% ๐
The Open Network (TON) has made impressive strides, rallying by 4.1% in the past 24 hours. According to CD Analytics, this surge indicates a robust momentum for TON, marked by consistent higher lows and highs.
Breaking Through Key Levels ๐
TON's price touched a peak of $3.39 after shattering resistance levels, driven by a surge in trading volume to 5.77 million, which is significantly above its 24-hour average.
While recent phases saw consolidation around the $3.35 mark, hinting at potential profit-taking, the uptrend holds strong with solid support at $3.27.
Technical Analysis Insights ๐
From $3.20 to its recent high of $3.39, TON registered a notable 6.03% increase. The break through resistance at $3.33 on elevated volume suggests there may be further upside potential.
Even amidst a small 1.24% correction from $3.38 to $3.34, TON continues to test support at $3.33, establishing its resilient position.
What Lies Ahead? ๐
Looking forward, as long as the support at $3.27 remains unchallenged, TON could witness more bullish activities. The diminishing volume during consolidation could imply a buildup for another leg up.
Conclusion: Optimism on the Rise ๐
In a broader market context, The CoinDesk 20 shows a 3.7% uplift, confirming the bullish sentiment surrounding high-cap cryptocurrencies like TON.
