In the cryptocurrency market, Bitcoin’s leadership in the decline was the most significant factor shaping today. During this period, the painful process in ETF funds and steps taken by the SEC in the US continue to set the agenda. So, what is expected for TON, ADA, and AVAX in the coming days? We are examining with detailed graphic analysis and important levels.
TON Graphical Analysis
Toncoin (TON) rebounded from moving averages on May 8 and overcame the $6.49 barrier at the 61.8% Fibonacci retracement level on May 10, signaling that the correction could be ending. It began to rise gradually from the daily EMA 20 average level of $5.81, and the RSI moved into the positive zone, indicating bulls are gaining the upper hand. The TON/USDT pair will attempt to rise to the $7.67 level.
Conversely, if the price sharply drops from the current level or from the general resistance at $7.67, this will indicate that bears remain active at higher levels. This could lead to a range formation between $4.72 and $7.67.
ADA Graphical Analysis
Cardano is stuck between the daily EMA 20 average of $0.47 and the support line, indicating uncertainty about the next directional move between bulls and bears. The downward EMA 20 and negative RSI indicate an advantage for bears. If the price falls below the support line, the ADA/USDT pair could drop to $0.35.
On the contrary, if the price rises above the EMA 20 average, this will signal that the bulls are making a comeback. The pair could rise to the SMA 50 average of $0.53 and then to the general resistance at $0.57. This area is likely to witness strong selling by bears.
AVAX Graphical Analysis
Avalanche has been trading between $29 and $40 for several days, indicating a balance between supply and demand. In a range, investors typically buy dips towards support and sell near resistance. Price movements within the range can be random and volatile. If the price rises above the EMA 20 average, the AVAX/USDT pair could reach $40.
Conversely, if the price drops from the EMA 20 average, this will continue to attract sellers at higher levels. The pair could drop to the solid support at $29. The next trend movement will likely start above $40 or below $29.
