- Tornado Cash price is retesting the $12 supply wall, rising about 6% over the past 24 hours.
- A broad bounce in top cryptocurrencies helped TORN recover from $11.50 lows to retest key resistance near $12.40.
- Technically bullish setup: TORN is attempting to break out of a daily ascending triangle pattern.
Tornado Cash (TORN), the governance token for the Ethereum-based privacy protocol that recently made headlines after a court ruling involving one of its co-founders, is trading at a critical level after rebounding from recent lows.
With the wider crypto market showing renewed resilience and analysts forecasting a stronger fourth quarter, is TORN positioned for further gains? Could bulls push it back toward the $20 seen in January 2025?
Tornado Cash price retests the $12 hurdle
While most cryptocurrencies faced selling pressure earlier in the week, Tornado Cash declined alongside many other tokens. As the major coins staged a recovery, TORN climbed off its $11.50 low and pushed into a key resistance zone around $12.40.
This area has previously acted as a significant supply barrier for TORN, capping bullish moves in December 2024 and January 2025. The current retest mirrors the broader market bounce, with both Bitcoin and Ethereum reclaiming important levels after recent drops.
Bitcoin briefly dipped below $108,000 before recovering above $110,000, while Ethereum — off its record-high above $5,000 — has steadied above $4,400 as buyers fend off sellers. TORN’s upward move aligns with this renewed optimism as it tests the $12.40 resistance.
Over the last 24 hours Tornado Cash has gained nearly 6%. Trading volume for the token in the same period is about $84,900, up roughly 3% from the previous day, indicating relatively modest market activity around the move.
Tornado Cash price outlook: Is $20 next?
Technical indicators for TORN have grown more constructive. On the daily chart the token appears to be forming an ascending triangle—an arrangement traders often associate with potential breakouts.
The $12.40 resistance level is pivotal: a decisive close above it could trigger momentum that pushes TORN toward the next significant resistance near $20. Current momentum readings support cautious optimism; the Relative Strength Index (RSI) sits around 57, suggesting room for more upside before overbought conditions set in.
Longer-term targets include the early-year high near $27 and the November 2024 peak around $39, which would require stronger sustained buying to reach. Conversely, if TORN fails to clear the $12 barrier decisively, the token could pull back to nearby support at $10, with a more durable buying zone around $7.20.
Traders should watch the price reaction around $12.40 closely. A confirmed breakout with volume expansion would increase the probability of a move toward $20, while rejection at that level could signal a return to lower support ranges.
Chart: Tornado Cash on TradingView