Telegram’s billion users will be able to interact with Ethereum Virtual Machine (EVM) distributed apps (DAPPs) directly within Messenger after the launch of TAC MainNet on Tuesday. This new feature could push DAPP adoption and Asset Inflowing up to the Ton network as it reduces technical barriers to mainstream users’ entries.
Can toncoins (tons) exceed overhead resistance? Let’s analyze and explore the chart.
Tonne Price Forecast
The tons rise above the moving average and approach the downward trend line of a pattern of descending triangles.
The 20-day Exponential Moving Average (EMA) ($2.94) begins to appear, with the relative strength index (RSI) diving into positive territory, indicating the benefits for buyers. Sellers are expected to defend the downtrend line with all force, as breaks above it will disable negative setups. This could drive the Ton/USDT pair to $3.69.
Instead, if prices drop sharply from the downtrend line, it suggests that the Bears will remain sellers at the rally. This allows the pair to remain in the triangle for more time. Sellers can take the advantage if they sink prices below the $2.75 support.
Related: Ethereum’s “important” breakouts next hint at 30% rally and bitcoin
Both moving averages begin to appear, with the RSI in the positive territory indicating that the Bulls have the advantage. Buyers try to push prices down the trend line. This can pose a huge challenge.
If prices were cut from the downtrend line, but bounced back from the 20-day EMA, it suggests bullish sentiment. This increases the chances of breaks exceeding the downtrend line. The pair can rally to $3.40 and then $3.50.
On the contrary, a drop below the moving average suggests that the Bulls are losing grip. The pair can then drop to $2.90.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
