Bitcoin was back in green on Monday after US SEC delayed spot Bitcoin ETF decision for all applicants including BlackRock, Fidelity, and others until October. The SEC began reviewing the latest slate of applications, from both crypto-heavy and traditional finance firms. However, positive economic data supported the sentiments.
Toncoin (TON) has experienced a significant gain over the past few days due to wider positive sentiment and is trading around $1.88 today. The price action has started registering short line candles in the daily chart, indicating that TON is currently entering a consolidation period.
Image: Chart-TON
TON can consolidate between the range of $1.8 and $1.95. If the price successfully surpasses this level, it could potentially lead to the resistance at $2. In case of a drop, the 9-day moving average is currently at $1.75 acting as its first line of defence, followed by the 20-day EMA at $1.62. Its RSI is moving sideward indicating an underlying buying pressure, as it sits well above in the overbought territory.
Major Levels:
Support: $1.75, $1.62
Resistance: $2, $2.15(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
