Buyers have once again failed to hold the bounce back, and all of the top 10 coins are in the red zone, according to CoinStats.

TON chart by CoinStatsTON/USD

The rate of Toncoin (TON) has increased by 1.17% since yesterday.

Image by TradingView

Despite today's rise, the price of TON is looking bearish on the hourly chart. If the candle closes below the $4.723 level, the fall is likely to continue tomorrow.

Image by TradingView

On the daily time frame, bears have seized the initiative after yesterday's bullish closure. 

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If the fall continues, the accumulated energy might be enough for a support breakout, followed by a blast to the $4.20-$4.40 range.

Image by TradingView

From the midterm point of view, the rate of TON is trading near the vital level of $4.721. If the weekly candle closes near it, there is a possibility to see a more profound correction to the $4 area.

TON is trading at $4.756 at press time.