$TON

TON price analysis: bulls or bears?

Brothers, TON's recent trend is a bit thrilling. On December 9, the price plummeted, and the bulls' profit-taking was directly smashed to the vicinity of the $5 support. This wave of adjustment does not seem to be over yet, and the bulls and bears are fighting.

The market is not completely hopeless. At present, the bulls can strongly fight back and push the price back above the 20-day moving average, which shows that the demand below is still very strong. Once TON stands firm at $6.3, the next target is likely to be $7.20, but that is the key sniping area for bears.

If the price continues to be suppressed below the 20-day moving average, especially if it falls below the 50-day moving average ($5.9), then the market may usher in a deeper decline.