🚀 Toncoin price analysis- Cointelegraph

📈 Bulls Defend Key Level
Toncoin (TON) bounced off $4.72 on August 5, showing strong bullish defense. The rally is encountering resistance near the 50% Fibonacci retracement level at $5.81.

🔽 Bearish Risk
If the price declines further, bears may try to push the TON/USDT pair below $4.72, potentially sending it down to $4.

🚀 Bullish Potential
If Toncoin breaks above $5.81, it indicates buying interest on dips. The pair could then rally to the 20-day EMA at $6.38, which is a key resistance level.