After the recent pullback, the crypto markets appear to have ignited a strong recovery phase, as most of the tokens have triggered a decent rebound. While the token Toncoin (TON) marked a fresh high of around $8.24, other altcoins like Lido DAO (LDO) initiated a strong rebound. Here’s what to expect from these tokens if the Bitcoin price fails to hold the crucial support at $66,000.
Toncoin price had maintained a strong ascending trend and marked a new ATH above $8 after breaking above the extended consolidation. After reaching new highs, the token is facing a fresh bearish action, which has mounted enough selling pressure over the token. Therefore, in the coming days, the TON price is expected to undergo a 10% drop and mark the bottoms at the lower support levels.
The token tested the levels at around $7.5 multiple times but failed to sustain them, making the levels one of the crucial points to achieve. However, the levels are expected to drop back within the range as the RSI fails to surpass the upper threshold, initiating a pullback. Therefore, the price is expected to drop by 8% to reach $7.4, which may trigger a rebound to a new ATH above $9 at $9.75 in the first few days of H2.
Regardless of the bearish influence, the Lido DAO price has been trading within an ascending trend in the long term. The previous attempt to rebound from the lower support seemed to have failed as the token faced a rejection at $2.7. However, the recent rebound has triggered the validation, which may occur following a 15% upswing.
After two consecutive bearish weeks, the price is heading towards recording a bullish close for the week. Besides, the weekly RSI has triggered a rebound while the MACD has displayed a drop in selling pressure. Therefore, the price is expected to maintain an ascending consolidation and reach the upper resistance zone between $2.5 and $2.6, probably in the first few days of the coming month.
Also Read : The Crypto Markets Continue to Drop While Institutions Accumulate ETFs: Who Is Selling BTC?
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