As a seasoned crypto investor with several years of experience under my belt, I’ve learned to remain calm during market volatility and not let short-term price movements sway me from my long-term investment strategy. However, the recent trend of falling rates across the majority of coins has left me feeling a bit uneasy.
The rates of the majority of the coins keep falling, according to CoinStats.
TON/USD
The price of Toncoin (TON) has increased by 0.62% since yesterday.
On the hourly chart, the price of TON may have reached a local resistance point at $7.651. Should the daily closing price deviate significantly from this level, it could signal an opportunity for bears to re-enter the market, potentially resulting in a decline towards the $7.50 region.
From a crypto investor’s perspective, I find myself observing neutral price action on the daily chart. The price lies smack in the middle of a broad trading range, implying that significant price swings may be less likely for now.
For the coming days, it’s more probable that the stock will continue to trade between the ranges of $7.4 and $7.8 without significant upward or downward movement.
The weekly chart displays a comparable image with similar volume levels. This indicates that both buyers and sellers are showing minimal activity. In essence, traders could expect price action to fluctuate between the $7 and $8 ranges during the next week.
TON is trading at $7.612 at press time.
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2024-06-29 18:29