In the grand theater of the cryptocurrency market, the bears are strutting about, giving no quarter to the hapless bulls, as if they were the stars of a tragic play, according to the ever-watchful CoinMarketCap.
TON/USD
Ah, the rate of Toncoin (TON) has taken a tumble, a staggering 9.45% drop in just a day. It’s as if the coin slipped on a banana peel, and now it’s trying to regain its footing.
On the hourly chart, our dear TON has perhaps set a local resistance at $3.076. If the daily bar manages to close around that mark or, heaven forbid, above it, we might just see a glimmer of hope as it climbs toward the $3.20 area. But let’s not hold our breath, shall we?
Now, looking at the bigger picture, it seems TON has pulled a fast one, making a false breakout of the support at $2.910. It’s like a magician’s trick gone wrong, and if the candle closes with a long wick, traders might just witness a bounce back to the $3.10-$3.20 range by week’s end. Or they might just witness a sad trombone sound instead.
From a midterm perspective, one ought to keep an eye on the bar’s closure around the $2.910 level. If it lingers there without a long wick, the accumulated energy might just be enough for a nosedive to the $2.50 range. It’s like watching a soap opera, full of twists and turns!
As of now, Toncoin is trading at $3.070, teetering on the edge of glory or despair.
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2025-03-04 17:58