As a seasoned financial analyst with over a decade of experience in the cryptocurrency market, I have seen my fair share of market fluctuations and trends. Today, as I analyze the current price action of Toncoin (TON), I cannot help but notice the intricacies of its short-term and long-term movements.
The rise of some coins continues, according to CoinStats.
TON/USD
The price of Toncoin (TON) has fallen by 0.82% over the last day.
On the hourly chart, the price of TON is returning to the nearby support of $7.33. If purchasers fail to take control by the close of the trading session, there’s a strong possibility of a breakthrough, leading to a drop towards the $7.25 region.
If a bullish trend in the stock market fails to hold after a bullish day’s end, and the price drops below the previous day’s lowest point, the downtrend could potentially extend towards the $7 mark in the near future.
From the midterm point of view, the rate of TON has failed to fix above the $7.50 range.
If the weekly bar finishes above its current high, buyers have taken control, potentially leading traders to encounter a challenge at the $8 price level.
TON is trading at $7.35 at press time.
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2024-07-16 17:20