As a seasoned crypto investor with years of experience navigating market ups and downs, I’ve learned to take every piece of data as a learning opportunity rather than a cause for panic. Today, seeing Toncoin (TON) plummet by 16.35% is certainly not a pleasant sight, but it’s part of the game.
Sellers are back in the game at the end of the week, according to CoinStats.
TON/USD
Toncoin (TON) has lost a lot of value today, falling by 16.35%.
On the hourly timeframe, the price of TON appears to have breached its immediate support at $5.322, but this might be a deceptive breakout. Given that most of the Average True Range (ATR) has been traversed, significant price swings are unlikely before the end of trading today.
Over a larger time period, it’s important to focus on the closing of daily candles, particularly the potential support level at $5.452 that has been established.
If it happens far from it, one can expect a bounce back to the vital zone of $6 next week.
On the weekly graph, there’s a somewhat ambiguous image emerging. After the last bullish spike, bears managed to halt the upward trend. If the current price level persists at the end of this bar, the downtrend might extend towards the $5 region.
TON is trading at $5.705 at press time.
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2024-08-25 19:15