As a seasoned analyst with a knack for spotting trends in the cryptocurrency market, I find myself intrigued by the current bullish run of Toncoin (TON). With over a decade of experience under my belt, I’ve seen more market cycles than I care to remember, and this one feels different.
The market keeps setting new local peaks, according to CoinStats.
TON/USD
The price of Toncoin (TON) has increased by 4.12% since yesterday.
Regarding today’s progress, the trend for TON remains optimistic as suggested by its bullish outlook. On an hourly scale, we anticipate a potential breakthrough of the resistance at $5.636. If this occurs and the daily candle concludes without a significant wick or shadow, the price increase could extend towards $5.70.
On larger time scales, you might find a comparable image emerging. If the price manages to touch the resistance at $5.667 and the bulls maintain their momentum, there’s potential for growth that could challenge the $6 price range in the coming days.
A different situation can be seen on the weekly chart. Even if the candle closes bullish, one cannot expect a fast reversal.
In summary, it’s most probable that we’ll see a stabilization within the range of $5.50 to $6.50 before the end of this month.
TON is trading at $5.638 at press time.
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2024-09-13 18:17