Date: Sun, March 02, 2025 | 09:23 AM GMT
As the new month begins, major altcoins are showing signs of recovery after a sharp correction that followed the November rally. The heavy sell-off in February significantly impacted prices, but now, the market appears to be stabilizing.
Among the top altcoins, Jupiter (JUP) and Toncoin (TON) have experienced significant corrections of 25% and 31%, respectively, over the last 30 days.
However, both assets are now showing resilience at crucial support levels, raising the possibility of a rebound in the coming weeks.
Jupiter (JUP) Analysis
The weekly JUP chart shows that the price has been trading within a prolonged descending triangle pattern for the past year. The recent downturn, which began in early December after a rejection at $1.44, has pushed JUP into deeper correction territory.
Last week’s price action saw JUP testing its critical support zone around $0.63, which coincides with historical demand levels. Despite the bearish momentum, buyers defended this zone, leading to a slight bounce, and the price is now trading near $0.76.
The first challenge will be the 25 Moving Average. A decisive breakout above this level would confirm a shift in momentum.
If JUP maintains upward momentum, the price could retest the descending triangle’s upper boundary, located between $1.10 and $1.20.
Toncoin (TON) Analysis
Unlike JUP, Toncoin (TON) has been trading within a broader ascending channel since the bull market of 2021. However, the recent rejection from the upper boundary at $8.28 in mid-2024 triggered a substantial correction.
In February, the sharp sell-off drove TON’s price down to $2.99, where it successfully held support at the channel’s lower boundary. The current rebound has pushed the price back to $3.33, with 150-day Moving Average (MA) support acting as a key level.
The next significant hurdle for TON is the 100-day MA. If it break above this level, it would confirm renewed strength in buying pressure.
A sustained move above resistance could push TON towards its previous range highs, opening the door for a recovery rally.
Final Thoughts
Both JUP and TON have successfully defended crucial support zones, showing early signs of a potential trend reversal. While they remain inside their respective long-term patterns, a breakout above key resistance levels could trigger strong upward movements.
Additionally, the MACD indicators on both charts are starting to flatten, suggesting a possible loss of bearish momentum. If confirmed, this could further support the bullish recovery scenario.
As always, traders should watch key technical levels and market sentiment before making any investment decisions.
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