Buyers have failed to keep the growth going, according to CoinMarketCap.
Top coins by CoinMarketCapTON/USD
The rate of Toncoin (TON) has increased by 0.26% over the past day.
Image by TradingView
Despite today's slight rise, the price of TON is not looking bullish on the hourly chart. If bears' pressure continues and the candle closes near the local support, one can expect an ongoing fall to the $5.40 zone.
Image by TradingView
On the bigger time frame, none of the sides is dominating, as the rate is far from main levels. In this case, traders are unlikely to expect sharp moves soon.
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All in all, ongoing sideways trading in the range of $5.40-$5.80 is the more likely scenario.
Image by TradingView
From the midterm point of view, it is too early to make any long-term predictions. If buyers want to seize the initiative, they need to restore the rate to at least the $6 area.
TON is trading at $5.496 at press time.
