Deniz 
With Toncoin’s TVL (total value locked) surpassing the $600 million milestone, the bullish growth continues in its market value. Ranking at #8 in the top 10 crypto and a market cap of $16.80 billion, TON price trades at $6.72 and an intraday gain of 6.2%. Will this bullish revival skyrocket the altcoin price to a new all-time high this month?
TON price action reveals a resilient bullish cycle in motion with a 26% jump in the last 9 days. Impressively, the triple white soldier pattern forming over the last 3 days accounts for a 8.21% jump, which challenges the overhead resistance trendline.
The recent V-shaped reversal in TON price from $5 failed to surpass the 50-day EMA and the resistance trendline. Thus, a bullish failure leads to a retest of the $6 breakout.
The underlying demand at the psychological mark of $6 led to a post-retest rally, forming a morning star pattern. Despite facing multiple bearish reversals from the overhead resistance trendline, the ongoing recovery rally in TON prices teases a bullish breakout.
As per the trend-based Fibonacci level, the $6 retest aligns with the 23.60% Fibonacci level, which results in the high-momentum reversal in action.
Technical indicators:
EMA: The 20D EMA breaks below 50D and 100D EMA due to the crash in early August.
MACD: The bullish crossover in the MACD and signal lines are gaining traction with a surge in positive histograms. Hence, a positive trend in the momentum indicator supports breakout chances.