Toncoin (TON) has been at the center of attention as it struggles against critical resistance levels. Despite the bearish sentiment, some indicators hint at a possible bullish reversal if key conditions are met. This analysis will delve into the potential price movements for TON over the next 24 hours and outline the crucial levels that traders should watch.

Critical Resistance Levels Stand in the Way

The most pressing challenge for Toncoin is breaking through the $5.424 level, where the 20 EMA currently resides. This moving average has acted as a strong resistance point, and breaking above it could trigger a bullish reversal. Above this, the 50 EMA at $5.464 and 100 EMA at $5.551 form a resistance cluster, which TON must conquer to sustain any upward momentum.

Given that these resistance levels are closely aligned, Toncoin’s price action will be critical in determining whether bulls can reclaim control. A decisive breakout above the $5.551 mark would be a strong bullish signal, potentially paving the way for a move towards the $5.782 level, the next significant target.

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Falling Channel Could Present a Bullish Opportunity

While the falling channel pattern typically indicates a bearish continuation, it can also offer an opportunity for a breakout. If Toncoin manages to break out of this channel to the upside, it could signal the start of a bullish phase. Considering the recent increase in trading volume, this scenario would require a surge in buying pressure, which is not out of the question. The next 24 hours will determine whether this breakout will materialize.

Support Levels to Watch

On the downside, Toncoin has solid support at $5.141 and $5.134. These levels have previously acted as strong defences against bearish pressure. If TON fails to break above the resistance levels, it could retest these support zones. A breakdown below $5.134 could open the door for further declines, potentially pushing the price towards the $5.000 psychological support level.

Toncoin is at a crossroads, with the potential for bullish and bearish scenarios. Traders should closely monitor the key resistance at $5.551 and the support levels around $5.141 and $5.134. The next 24 hours will be crucial in determining the direction of TON’s price movement, with a potential bullish breakout or further consolidation within the falling channel pattern as the likely outcomes.