The end of the week is bearish for most coins, according to CoinStats.
TON chart by CoinStatsTON/USD
The price of Toncoin (TON) has dropped by 3% since yesterday.
Image by TradingView
On the hourly chart, one should pay attention to the local level of $7.45. If buyers fail to seize the initiative by the end of the day, the decline might continue to the vital area of $7 tomorrow.
Image by TradingView
On the daily time frame, the candle is about to close in the red zone, which means bulls have not accumulated enough energy to grow.
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In this case, there is a chance of a further decline to the support level of $6.72 within the next few days.
Image by TradingView
On the bigger chart, neither buyers nor sellers are controlling the situation on the market. Such a statement is also confirmed by low volume. All in all, consolidation around the $7 zone is the more likely scenario.
TON is trading at $7.284 at press time.
