As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I find myself intrigued by the performance of Toncoin (TON). While most coins are struggling to regain their green zone, TON is bucking the trend, showing a 2.78% rise over the past day.
Most of the coins have failed to come back to the green zone, according to CoinStats.
TON/USD
Toncoin (TON) is an exception to the rule, rising by 2.78% over the last day.
Looking at the one-hour chart, the price of TON has surpassed its nearby resistance point at approximately $5.580. Should the daily candle close above this level, potential growth could see us challenging the $6 region in the near future.
On a larger timescale, there seems to be a more neutral outlook. Neither the bulls nor the bears appear to have built up sufficient power for a significant rise or decline yet.
Regarding this topic, it’s more probable that prices will stabilize between $5.50 and $6 by the end of the week.
From my analysis, I find myself observing that the value of TON is approaching the supportive level at around $4.721 on the weekly chart. If the closing price for this week settles near this point, it could potentially trigger a breakout, leading to a possible drop in value within the range of $4-$4.50.
TON is trading at $5.607 at press time.
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2024-08-28 18:39