In the cryptocurrency market, the uptrend led by Bitcoin and Ethereum continues to gain momentum. Developments from last week have also reflected on the charts at the start of this week. So, what can we expect from BNB, Solana, and Toncoin, some of the largest altcoin projects by market value? We analyze detailed chart analysis and important levels.
BNB Chart Analysis
BNB has stayed above the moving averages in recent days, but the bulls have not been able to break the $635 resistance. The gradually rising 20-day EMA at $595 and the RSI above 58 indicate a slight advantage for the bulls. The bulls will attempt to push the BNB/USDT pair above $635. If they succeed, the pair could start the next leg of the uptrend towards $692.
Conversely, if the price falls from the general resistance and drops below the uptrend line, it will signal that the pair may remain in this range for a longer period. The pair could then drop to $536 and subsequently to $495.
Solana Chart Analysis
Solana fell to the $162 breakout level, indicating a lack of demand at higher levels. The 20-day EMA is flattening, and the RSI is just above the midpoint, signaling a slight advantage for the bulls. If the uptrend continues, the bulls will try to push the SOL/USDT pair to $189 and then to the general resistance at $205.
On the other hand, a drop below $162 will signal that the bulls have given up. This could start a decline towards $140 and then $126. The bulls are expected to defend this level strongly.
Toncoin Chart Analysis
Toncoin (TON) has been trading near the 20-day EMA in recent days, signaling a balance between supply and demand. If the price rises above $6.75, it will turn the short-term advantage in favor of the bulls. The TON/USDT pair will then attempt to rise towards $7.67, where the bears are expected to make a strong defense.
On the downside, a break and close below $6 will indicate that the bears have the upper hand. This could start a decline towards $5.50 and subsequently to $4.72. A strong rise from this level will indicate that the pair may remain in this range for a few more days.
