TokenFi Price Surges 50%, Can Bulls Sustain the Rally?

• TokenFi shows potential reversal signals after a 70% decline since December 2024.
• Critical levels to watch include immediate support at $0.016, resistance at $0.025, and the major 50 EMA resistance at $0.034.

TokenFi is showcasing extreme bullishness as its price surged by approximately 50% in the last 24 hours. Since late 2024 TokenFi (TOKEN) has demonstrated early indications of reversing its bearish trend. The current market activities, together with technical analysis, point to a positive market sentiment.

Since December 2024 TokenFi has maintained a strong downward movement on its daily chart while dropping about 70% from its peak values during that month. Market data shows a potential bottoming pattern because a significant green candle lifted its price from $0.016 support to reach $0.022.

According to CMC data, TokenFi is trading at $0.02281 with an intraday gain of 45% indicating bullishness. The recent market surge has brought about increased trading volume which strengthens the potential reversal indication.

Will TokenFi (TOKEN) Break Above 200-day EMA Level?

The Supertrend indicator generated its first bullish signal since months at $0.016720. Price exceeded immediate resistance, which signals that buying power has increased. Positive divergence emerges from the MACD as the histogram shifts to green, while both MACD lines approach each other indicating rising bullish momentum.

The RSI indicator has experienced a rapid increase on the longer timeframe chart which now stands at 73.78 and has reached overbought levels. Strong buying pressure exists in the market but a pullback might occur shortly. The strong price action demonstrates the current market strength because RSI has increased substantially from its previous state.

The $0.016 level serves as support for traders entering positions, but they should expect resistance at 0.025 before reaching the 200 EMA at 0.034. Risk management becomes essential because this potential trend reversal exists in its initial phase and needs confirmation by persistent higher lows and higher highs to create a new upward trend.

Traders need to exercise caution because crypto markets continue to be volatile. This uptrend may turn out to be a short-term relief rally within an ongoing downward trend.

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