TON, LTC, AVAX Price Analysis: Market Performances of Toncoin, Litecoin, and Avalanche

As macroeconomic forecasts and regulatory news hit the crypto market, altcoins have shown significant volatility in the past few days. However, we will focus on the market performances of Toncoin (TON), Litecoin (LTC), and Avalanche (AVAX).

Macroeconomic forecasts and regulatory news have impacted the crypto market in recent days, leading to substantial volatility among altcoins. In this analysis, we'll examine the market performances of Toncoin (TON), Litecoin (LTC), and Avalanche (AVAX).

1. Toncoin (TON) Price Analysis

Ton has faced significant selling pressure, currently trading at $4.86, down 1.40% in the last 24 hours and 4.10% over the past week. It has found some support at the $4.70 level but has been unable to突破 the $5.00 resistance, impacting its short-term outlook.

However, the bullish scenario for TON involves a breakout from the bearish trendline and an upward cross of the 9 and 18 simple moving averages (SMA), which could trigger a bullish push towards the $6.00 level. If the bearish confluences continue to align and the price breaks below the support line at $4.60, we could potentially see a drop to the next support at $3.40.

2. Litecoin (LTC) Price Analysis

The Litecoin ecosystem has seen a highlight in the last two days, with updates on the US Securities and Exchange Commission (SEC) approval for Canary Capital's LTC ETF application. Litecoin holders are showing optimism as this recognition unfolds in the market.

For this technical analysis, we're considering the trading range with a low of $106.17 and a high of $133.59. A Fibonacci retracement to the 0.786 level within this range, which aligns with a key support level, could provide the confluence needed to signal immediate bullish momentum.

The 8 and 18 moving averages have also shown a bullish crossover on the daily timeframe, indicating an uptrend to the $147.34 price level.

If LTC maintains its bullish trend, it will extend the rally by 14% from its current level to retest its December 5th high at $147.34.

3. Avalanche (AVAX) Price Analysis

AVAX recently recorded a blistering daily minting of around 2000 Bitcoins(BTC), bringing substantial activities to its DeFi ecosystem. This cross-chain bridge has enabled BTC holders to deploy their assets within Avalanche's applications.

Despite this achievement, AVAX continues to show more bearish momentum. It maintains a steady decline on a descending trendline drawn from the $55.41 high created on December 12th, 2024. A support level of $30.74 is currently in sight, and traders are hoping to see an upward recovery from this zone.