The broader market remains volatile, with the BTC price back under the $60K mark. Amid this, the volatility increases for the Toncoin and Notcoin with Parel Durov’s case. As Durov gets out by paying a bail amount of $5.56 Million, the altcoins are turning positive momentarily. Will this recovery reclaim the lost levels of last week?
Will TON Price Hold $5 Support?
Following the massive crash over the weekend, the TON price shows a bullish hold over the $5 support level. However, the bullish dominance at the 200-day EMA has been compromised resulting in a downtick in the 50-day EMA.
With the increased chances of a death cross, the EMAs give a SELL signal for the Toncoin. Further, with the bullish resurgence with the bearish exhaustion and Durov’s bail, the TON price is moving up, 7.80% in the last two days.
The TON price is trading at $5.53 with a Doji intraday candle despite a 98%% surge in trading volume. A bullish trend ahead can result in a price jump to the $6.11 mark if it exceeds the 200-day EMA in the short term.
NOT Price Bull Cycle Amid Volatile Market
With the bearish trend extension, the NOT price shows a falling wedge in the daily chart. The weekend correction for Notcoin aligns with the negative cycle within the pattern and tests the bottom support trendline.
Further, the MACD indicator shows an intense bearish trend while positive crossover chances are improving. The altcoin has increased by 7.10% in the past two days and is currently trading at $0.0090.
With a potential bull cycle ahead, the NOT price eyes the overhead trendline and the 50-day EMA. Further, approaching the bottleneck portion of the pattern, the TON price is ready for a decisive move and breaking the pattern.
On the upside, the altcoin can find resistance at the $0.0116 level before the breakout and at $0.01750 post-breakout. On the flip side, the support levels are hard to find due to the lack of significant price movement at lower levels. However, a cushion could be witnessed at $0.0075 and $0.0045.
