- Tornado Cash price retests the $12 supply barrier, rising 6% in the past 24 hours
- A broader rebound in major coins has seen TORN bounce from a low of $11.50 to re-test key resistance around $12.40
- The technical picture is bullish: TORN needs to break above an important ascending triangle pattern on the daily chart
Tornado Cash (TORN), the governance token for the Ethereum-based privacy protocol that recently made headlines over a court ruling involving one of its co-founders, has shown renewed price activity amid a resilient crypto market.
With the wider cryptocurrency market demonstrating strength and analysts forecasting a potential recovery into Q4, could TORN continue to climb? Is a move back toward the $20 level — last seen in January 2025 — possible if bullish momentum persists?
Tornado Cash price retests the $12 barrier
While the crypto market pulled back under selling pressure on Monday, Tornado Cash traded alongside other tokens during the dip. Still, as leading coins recovered some losses, TORN rebounded from a low of $11.50 and climbed toward the primary resistance zone near $12.40.
This level has previously acted as a significant supply wall for TORN, and the recent test reflects the broader market bounce, with both Bitcoin (BTC) and Ethereum (ETH) recovering to key levels after earlier declines.
BTC, briefly dipping below $108,000, rebounded to trade above $110,000, while ETH, which had fallen back from a new all-time high above $5,000, stabilized above $4,400 as bullish pressure re-emerged.
TORN’s upward movement aligns with this renewed optimism as the token challenges the $12.40 resistance zone — a barrier that previously capped rallies in December 2024 and January 2025.
Over the past 24 hours, Tornado Cash rose by nearly 6%. Trading volume for the same period was modest at $84.9, up about 3% from the previous day, signaling only limited market activity despite the price gain.
Tornado Cash price outlook: Is $20 next?
Technically, TORN is showing a more bullish bias. On the daily chart the token appears to be forming an ascending triangle pattern, which typically signals a potential breakout to the upside.
Analysts connect this pattern with the prospect of a breakout, and the $12.40 resistance is pivotal. A decisive daily close above this level could provide the momentum to push TORN toward the next major resistance at $20.
Current technical indicators add context: the Relative Strength Index (RSI) sits near 57, indicating moderate bullish momentum without being overbought. Higher targets include the year-to-date peak of $27 and the November 2024 high around $39, though those would require stronger, sustained buying pressure.
On the downside, failure to break and close firmly above $12 could see TORN retreat toward the $10 support area. A stronger buying zone is closer to $7.20, which would act as a more significant floor if selling intensifies.
In summary, Tornado Cash’s near-term direction hinges on the outcome around the $12.40 resistance. A clear breakout would favor a bullish continuation with a $20 target within reach, while rejection at that level would shift focus back to nearby supports and lower demand zones.