- Tornado Cash price is testing the $12 supply wall again, rising about 6% in the last 24 hours.
- A broader rebound among top coins helped TORN bounce from $11.50 lows to retest a key resistance area near $12.40.
- The technical picture is constructive, and TORN is attempting to break above a key ascending-triangle formation on the daily chart.
Tornado Cash (TORN), the governance token for the Ethereum-based privacy protocol that recently made headlines following a court verdict involving one of its co-founders, is trading at a pivotal level after recovering from recent lows.
With the wider cryptocurrency market showing resilience and some analysts forecasting a pickup in the fourth quarter, is TORN’s price action ready for further gains?
Can bulls retest the $20 mark that was last seen in January 2025?
Tornado Cash price retests the $12 resistance
While cryptocurrencies faced bearish pressure on Monday, Tornado Cash fell alongside many other tokens.
As major coins regained some of their losses, TORN bounced from a low of $11.50 and climbed back toward a critical resistance zone around $12.40.
Notably, this level previously acted as a significant supply barrier for TORN.
The retest of that area mirrors a wider market recovery, with both Bitcoin (BTC) and Ethereum (ETH) rebounding to key levels after Monday’s declines.
BTC briefly dipped below $108,000 before finding support and trading back above $110,000.
Meanwhile, ETH pulled back from its record highs above $5,000 and stabilized above $4,400 as buyers kept sellers at bay.
TORN’s upward move aligns with renewed market optimism as the token challenges the $12.40 resistance zone.
As mentioned, this price band has previously thwarted bullish attempts in December 2024 and January 2025.
Over the past 24 hours, Tornado Cash has risen nearly 6%.
However, its 24-hour trading volume is only $84.9k, a roughly 3% increase from the previous day, indicating relatively low market activity.
Tornado Cash price outlook: Is $20 next?
Technically, TORN’s outlook is becoming more constructive as the token forms an ascending triangle on the daily chart.
Chart of Tornado Cash via TradingView
Analysts often view this pattern as bullish, making the $12.40 resistance level especially important.
A decisive daily close above this point could give momentum that pushes TORN toward the next sizable resistance at $20.
On the chart, the relative strength index (RSI) currently sits around 57.
Further upside targets include the year-to-date highs near $27 and the November 2024 peak at $39.
If TORN fails to convincingly clear the $12 zone, it could retreat to support near $10. A stronger buying area lies around $7.20.