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TONCOIN PRICE ANALYSIS & PREDICTION (March 27) – TON Approaches Key Resistance After a 12% Daily Surge, Will it Break?
As of March 27th, TON has shown remarkable resilience in the market, surging by an impressive 12% in a single day. Despite this bullish momentum, analysts are cautioning that a key resistance level lies ahead, threatening to derail the coin’s upward trajectory.
The chart suggests that TON is currently approaching a crucial threshold at $3.9, and a successful break above this barrier could propel the price towards even higher levels of $4.79 and $5.66 in the coming week. However, a failure to clear this hurdle would likely lead to a reversal or further consolidation.
It’s worth noting that while the daily chart paints a rosy picture for TON enthusiasts, the short-term trend remains bearish. The recent surge is largely attributed to a broader market correction, and traders are advised to exercise caution when entering long positions.
From a technical perspective, several key levels must be watched closely: $3.5, which has thus far held firm as support, and $2.74 and $2.36, should the price experience a downturn. A breakdown below these critical supports could precipitate a sharp decline, with the next major level of defense at $2.
For investors and traders seeking to capitalize on TON’s momentum, it is essential to stay informed about market developments and adjust their strategies accordingly.
Source: https://nulltx.com/toncoin-price-analysis-prediction-march-27-ton-approaches-key-resistance-after-a-12-daily-surge-will-it-break/
