The pair is rising within an ascending channel formation on the 4-hour chart. This shows that the short-term sentiment remains positive and that traders are buying on dips. The pair could continue its upward movement and reach the resistance line near $156. If this level is measured, the rally could touch $162.

The first sign of weakness will be a breakout and close below the moving averages. The pair could then retreat to the channel’s support line. A break below the channel could start a move down to $133.

tons/USDT
The bulls pushed Toncoin (TON) above the symmetrical triangle resistance on December 11, indicating that the uncertainty has resolved in favor of the buyers. The symmetrical triangle usually acts as a continuation pattern, which increases the likelihood of an uptrend resuming.

TON/USDT daily chart. Source: TradingView
If the buyers maintain the price above the triangle, the TON/USDT pair may try to break above the upper resistance area between $2 and $2.15. If they can do so, the pair can gain momentum and rise to the pattern target at $2.87.

Conversely, if the price fails to sustain above the triangle, it will indicate that the bears will continue to sell on rallies. A break below the 50-day simple moving average (SMA) at $1.70 could trap aggressive bulls, and drag the pair to the triangle support line.

TON/USDT 4-hour chart. Source: TradingView
The moving averages on the 4-hour chart are sloped higher and the RSI is in the overbought territory, indicating that the bulls are in control. The upward move could face a hurdle near $2, but if the bulls keep the price above this level, the rally could move higher quickly.

If the price declines from the current level and breaks below the 50-SMA, the selling may accelerate and the pair may drop to $1.70. This is an important level to watch because a break below it could signal that the bears are back in control.

Related: SBF ‘Didn’t Like’ Decentralized Bitcoin – Cathy Wood, CEO of ARK Invest

TWT/USDT
Trust Wallet Token (TWT) continued its northward march, indicating that traders are buying at higher levels and not booking profits in a hurry. This increases the possibility of an uptrend extension.

TWT/USDT daily chart. Source: TradingView
The bulls will try to push the price above the general resistance at $2.73. If they succeed, TWT/USDT could rise to the psychological $3 level as the bears may try to halt the upward move.

If buyers bully their way through this hurdle, the upside could reach the pattern target at $3.51.

The bears are likely to have other plans as they will try to defend the general resistance at $2.73. They would have to pull the price below the 20-day moving average ($2.30) to gain the upper hand.

4 hour chart TWT/USDT. Source: TradingView
The four hour chart shows that the bulls have been buying dips into the moving averages. Although the moving averages are declining, the RSI is showing negative divergence, which indicates that the bullish momentum may be weakening. This may change if the bulls push the price above $2.73 as that could attract more buying.

Moving averages are the important support to watch on the downside. If the 50-SMA support breaks down, many short-term traders may take profits and this could send the pair down to $2.25 and later to $2.

AXS/USDT
Acce Infinity
AXS

cursors down
$6.95

It was in a strong downtrend but it is showing the first signs of a possible trend change. Buyers pushed the price above the downtrend line on December 5 but were unable to sustain higher levels, as evidenced by the long wick on today’s candle.

AXS/USDT daily chart. Source: TradingView
The slight positive is that the bulls did not allow the price to break below the moving averages. This shows that the buyers are trying to turn the moving averages into support.

The moving averages are about to cross bullish and the RSI is in positive territory, indicating that momentum may shift in favor of the bulls. If the price breaks and holds above the downtrend line, the price is likely to rise to $11.85. This level is expected to act as a major obstacle to the upside move.

The bullish view could be invalidated in the near term if the price falls and breaks below the moving averages. AXS/USDT could then slide to $6.57.

AXS/USDT 4-hour chart. Source: TradingView
The four hours chart is showing that the bears are aggressively defending the downtrend line and the bulls are buying dips into the 50-SMA. The 20-EMA flattened and the RSI approached 47, indicating a balance between supply and demand.

A break and close above $8.70 could turn the advantage in favor of the bulls. The pair may then rise to $9.28 and later to $10. Alternatively, a break below $7.86 could indicate the bears are back in the driving seat. The pair could then slide to $6.87.

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