As a seasoned crypto investor with a few years under my belt, I have learned to read the market trends carefully before making any investment decisions. The recent decline in the crypto market has not lasted long, and I’m glad to see most coins, including Toncoin (TON), bouncing back.
Most coins on CoinMarketCap have recovered quickly from their recent downturn, with the majority now showing positive price gains.
TON/USD
The price of Toncoin (TON) has risen by 4.95% over the past 24 hours.
Although TON‘s price has increased today, it remains close to the $7.22 support level. If an upturn doesn’t occur before the end of trading hours, a potential drop and further slide towards $7 could follow.
Looking at the broader perspective, bears have been holding sway over bulls. If today’s daily bar finishes near its current price level, the downward trend could persist and potentially reach the $7 mark by the week’s end.
From a midpoint perspective, neither side holds a clear advantage within the expansive range, making it an evenly contested situation.
As a researcher observing market trends, I’ve noticed a decrease in trading volume. This reduction suggests that both buyers and sellers are exhibiting a lack of urgency or interest in making transactions. Consequently, it seems plausible that the price will continue to oscillate around the $7 mark for the time being.
TON is trading at $7.2527 at press time.
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2024-06-06 12:21