Toncoin (TON) has experienced a notable bull rally, surpassing its 20-day and 50-day EMAs and bouncing back from the $6.9-support level to trade near $7. This rally, which began two months ago at $4.8, has seen TON gain nearly 70%, peaking at $8.24 on June 15. The price action has formed an ascending channel on the daily chart, indicating potential for continued growth if the price closes above the channel's middle line. However, negative funding rates and a bearish divergence in the On Balance Volume (OBV) suggest a weakening uptrend. The Relative Strength Index (RSI) remains bullish but shows signs of easing buying pressure. If the price falls below the ascending channel, a retest of the $6 level could be likely. Thus, caution is advised before making new long positions, as the uptrend might be losing momentum.