TON rose above the moving averages and is approaching the downward trend line of the descending triangle pattern.
The 20-day exponential moving average (EMA) ($2.94) has begun to rise, and the relative strength index (RSI) has entered positive territory, indicating an advantage for buyers. Sellers are expected to defend the downward trend line with all their might, as a breakout above will invalidate the negative setup. This could push the TON/USDT pair to $3.69.
On the other hand, if the price sharply falls from the downward trend line, this suggests that bears remain sellers on rallies. This could keep the pair within the triangle for a longer time. Sellers will take the lead if they sink the price below the $2.75 support.
Both moving averages have started to rise, and the RSI is in positive territory, indicating that bulls have the advantage. Buyers will attempt to push the price toward the downward trend line, which could pose a considerable challenge.
If the price drops from the downward trend line but bounces off the 20-day exponential moving average (EMA), it suggests bullish sentiment. This increases the likelihood of a breakout above the downward trend line. The pair could rise to $3.40 and then to $3.50.
Conversely, a drop below the moving averages suggests that bulls are losing control. The pair could then plummet to $2.90.
