Toncoin (TON) Rejects From a Crucial Range: Will This Popular Altcoin Follow the Trend?

For a change, the crypto markets experienced a huge positive move during the weekend as the bulls continued to push the Bitcoin price above $65,000. Meanwhile, the popular altcoins Toncoin & Notcoin failed to attract traders’ attention, causing a massive pullback at the same time. However, both the tokens appear to have triggered a rebound, while the bulls remain off-shore. Will the prices of TON & NOT reclaim the crucial resistance today?

Toncoin (TON) Price

Toncoin price experienced yet another huge selling action during the weekend, dragging the levels close to $5 from the interim highs around $6.8. Although the bulls are attempting to revive a strong recovery by holding crucial support, the volume does not appear to be in their favour. Hence, the next few hours may be extremely important for the TON price rally, as a small negative price action may trigger another 15% by the end of the day. 

The TON price has displayed a magnificent run over the past few months, aiming to mark a 2-digit figure at the earliest. The negative market sentiments hindered the rally, causing a 40% decline in its prices. While the Bulls have lately tried hard to elevate the levels that they did during the past weekend, the Bears have maintained their dominance. Moreover, they seem to be poised to drag the levels lower as the price is failing to defend the crucial support at the 200-day MA at $4.676. Besides the on-balance volume, OBV heads toward the lower threshold, signifying the growing strength of the bears. 

Therefore, the Toncoin (TON) price appears to be in danger, as a drop below the ascending support may drag the levels below $5 in no time. 

Notcoin (NOT) Price

Being dissimilar to the market trend, the Notcoin price faced a massive setback during the past weekend. The bearish influence does not appear to have faded, as the bears have maintained their dominance over the token. With this, the NOT price may face another pullback anytime from now, which could cause a massive drop shortly. 

Soon after the bullish start, the NOT price has been trading within a decisive triangle, while the bears have intensified their action before reaching the apex. Besides, the MACD has undergone a bearish crossover, suggesting the beginning of a fresh pullback. However, the bulls appear to be gaining strength as the OBV has halted its bearish trend. Moreover, the support at $0.00957 is offering a strong base and hence the price is expected to trigger a rebound soon. 

Therefore, the Notcoin (NOT) price is expected to remain within the pattern and reach the apex, which may pave the way for a bullish breakout, reclaiming the resistance at $0.15.