Toncoin | Moving Averages Dynamics Explained (EMA13 & EMA21)
2024-10-01

We are using two moving averages on this chart: EMA13 and EMA21.
We are using the weekly timeframe, which is long-term...

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On the left side of the chart, we have lower prices. We can see the action that was happening before the strong rise, a major bullish wave.

➖ Notice how Toncoin turns bullish above EMA13/EMA21.
➖ Notice how, even in the short-term, Toncoin turns bearish below these levels.

Toncoin produced a major low in early September 2024 and this led to a strong pull-back. The pull-back produced three green weeks and the last week wicked above EMA13 and EMA21. The session closed below these levels. Trading volume on the rise was pretty low.

Here we are seeing EMA13 and EMA21 working as resistance.
Toncoin (TONUSDT) is now bearish as it trades below these two.
Being bearish can signal lower prices in the coming weeks.

Note: If TONUSDT moves and closes weekly above EMA13/21, this signal is invalidated.

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