As a seasoned crypto investor with years of experience under my belt, I’ve learned to navigate the volatile waters of the digital asset market. Today, looking at the TON/USD chart, it seems we might be witnessing a local peak for most coins, including Toncoin (TON).
Most of the coins may have found a local peak, according to CoinStats.
TON/USD
The price of Toncoin (TON) has fallen by 0.66% over the last 24 hours.
On the hourly chart, the price of TON is currently situated near the middle of its local trading channel, with support at approximately $4.956 and resistance around $5.070. Given that the majority of the daily Average True Range (ATR) has been surpassed, it’s unlikely we’ll see any significant price swings before the end of the day.
Looking at a broader perspective, things remain the same as they were yesterday. The trading volume continues to be minimal, indicating that neither party is prepared for a significant shift in the near term.
In this regard, consolidation in the area of $4.95-$5.150 is the more likely scenario.
Looking at the midpoint, the situation appears balanced. The Trading of Object X (TON) is significantly away from key levels, indicating a lack of significant buyer or seller influence. In summary, traders might expect more sideways movement near the current price points for the time being.
TON is trading at $5.025 at press time.
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2024-10-30 18:14