the Toncoin price is currently trading above the key EMA

May 10

The Toncoin price has recently been on a strong upward trend, reaching an all-time high. This trend has been supported by strong trading volumes, indicating the strength of the bullish sentiment. However, the price was unable to break the $7 resistance level and dropped slightly, before making another attempt to reach the previous swing high.

Thanks to strong buying momentum, the Toncoin price has now reached the previous swing high. If trading volumes decrease and bearish candlestick patterns emerge, the price may see a reversal from the $7 level, with people taking profits.

On the other hand, if the digital asset price manages to surpass the previous swing high, it will set a new all-time high. If trading volumes and daily active addresses continue to increase, the bullish trend may continue for the long term.

Technical indicators show that the Toncoin price is currently trading above the key moving average, indicating a bullish trend. The RSI has also exceeded the RSI-based moving average, which is a sign of positive momentum.