- The cryptocurrency market faces bearish pressure with Ethereum dropping over 11% in 7 days due to escalating global trade tensions and upcoming tariffs from Donald Trump on April 2.
- Toncoin (TON) broke out of its falling wedge pattern on March 19, moving above the 50-day MA at $3.55 and rallying to $3.93, with potential 49% upside if it breaks the 100-day MA resistance at $4.29.
- EOS similarly escaped its falling wedge pattern on March 18, surging to $0.6297 after breaking above the 50-day MA, with potential 31% gains if it can overcome the 100-day MA resistance.
- Both tokens are approaching critical resistance levels at their respective 100-day moving averages, which will determine whether their uptrends continue or if they retest lower support levels.
Date: Mon, March 31, 2025 | 12:50 PM GMT
The cryptocurrency market is under bearish pressure as Ethereum (ETH) has dropped by over 11% in the last 7 days, partly due to escalating global trade tensions, with Donald Trump set to impose reciprocal tariffs on all countries on April 2.
Despite this, Toncoin (TON) and EOS (EOS) have defied the bearish trend, posting impressive gains over the last seven days after key breakouts. Now, both tokens are approaching major resistance levels that will determine their short-term outlook.
Toncoin (TON)
On the daily chart, Toncoin (TON) broke its prolonged downtrend by successfully escaping from its falling wedge pattern on March 19. This breakout saw TON move above its resistance trendline and the 50-day moving average (MA) at $3.55.
This move triggered an upside rally, pushing TON to $3.93. The next crucial resistance stands at the 100-day MA, around $4.29. A confirmed breakout above this level could solidify a recovery and uptrend, potentially propelling TON toward its next resistance zones at $4.91 and $5.84. This represents a potential 49% upside from current levels if bullish momentum sustains.
EOS (EOS)
Like TON, EOS also broke its downtrend by moving out of a falling wedge pattern on March 18. The breakout saw EOS surpass its key resistance trendline at $0.51.
Following this, EOS surged to $0.6297, successfully crossing above the 50-day MA. Now, it faces resistance at the 100-day MA. A decisive move above this level could confirm a further recovery, potentially driving EOS toward its next resistance at $0.82, marking a potential 31% increase from current levels.
Will the Uptrend Continue?
Both TON and EOS have exhibited strong recoveries, breaking out of bearish structures and nearing key resistance levels. If they manage to break and sustain above their respective moving averages, further upside could be in play. However, failure to breach resistance could lead to a retest of lower support levels.
As the market remains volatile, traders should closely watch these resistance levels for confirmation of the next trend direction.
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