As a seasoned researcher with years of experience in the cryptocurrency market, I have witnessed bulls and bears dance their intricate dance countless times. However, each market is unique, and while bulls may traditionally reign at the beginning of weekends, exceptions are not uncommon, as CoinStats rightly points out.
Looking at Toncoin (TON), I see a coin with potential, showing a 1.09% increase since yesterday. On the hourly chart, the price is hovering close to resistance, hinting at an imminent breakout that might propel TON towards the $5.88 range.
Shifting focus to the bigger time frame, traders should keep their eyes on the nearby level of $5.873. If the bullish momentum persists and we manage to reach this mark, it could pave the way for a swift push towards the $6 area.
On a weekly basis, I predict sideways trading until mid-January, with volatility continuing its downward trend, indicating neither side has enough power for a significant move just yet. The range of $5.4-$6 could be our home for the next few weeks.
In conclusion, traders may find themselves in a consolidation phase over the coming days. But remember, the market is like a roller coaster – you never know when it will take an unexpected turn!
Lastly, as someone who has seen more than a few crypto winters and summers, I’d say: Always buckle up, because in this market, even the most predictable coin can suddenly take a leap into the unknown!
On weekends, I find myself leaning towards the bullish side, given their apparent strength. However, it’s important to note that there are always exceptions to this rule, as suggested by CoinStats.
TON/USD
The rate of Toncoin (TON) has gone up by 1.09% since yesterday.
On an hourly timeframe, the cost of TON is more near the resistance level compared to the support. Should a breach of the upper boundary occur, the built-up power could potentially propel it towards the $5.88 price range.
Looking at a longer perspective, traders ought to zero in on the next significant level at approximately $5.873. Should the bullish momentum persist and the price attain this point, further growth could promptly trigger a potential test of the $6 range.
Based on my extensive experience in the financial markets, I believe that sideways trading is likely to persist until mid-January, as the current market conditions suggest a lack of significant momentum for either bullish or bearish moves. The gradual decline in volatility indicates that neither side has enough strength to initiate a sharp price movement. This is not an uncommon scenario, and I’ve seen similar patterns play out numerous times during my career as a trader. It’s essential to remain cautious and patient during such periods, as sudden shifts can occur without warning. Keep a close eye on the market trends and be prepared to adjust your strategies accordingly.
All in all, traders may witness a consolidation in the range of $5.4-$6 over the next few weeks.
TON is trading at $5.744 at press time.
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2025-01-04 19:12