As a seasoned researcher with a knack for deciphering cryptocurrency market trends, I find myself intrigued by the current state of Toncoin (TON). With over a decade of experience under my belt, I’ve learned to read between the lines and predict the next move in this highly volatile market.
Some coins are trying to come back to the green zone, according to CoinMarketCap.
TON/USD
The rate of Toncoin (TON) has declined by 0.4% over the last 24 hours.
As I analyze the hourly chart for TON, I observe an upward trend in its price. Yet, it’s crucial to keep an eye on the daily bar closure. If this happens close to the local resistance, it might trigger a level breakout, leading to a potential move towards the $5.24 zone.
Over a longer period, things aren’t entirely obvious. Currently, the trading rate is encompassed within yesterday’s range, indicating neither buyers nor sellers have gained control yet. Given this situation, it seems plausible that the market may continue moving sideways around the $5.10 to $5.30 range.
Looking at the midpoint, the scenario with TON’s price resembles a mirror image. At present, the price is quite distant from crucial points. Therefore, it would be prudent to concentrate on the intermediate range around $5 for now.
If it breaks out, the accumulated energy might be enough for a dump to the $4.80 range.
TON is trading at $5.158 at press time.
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2024-10-24 16:54