Toncoin price analysis
Toncoin (TON) attempted to bounce off the moving averages on May 20 but the bulls could not build upon the momentum.
The 20-day EMA ($6.35) has flattened out, and the RSI is near the midpoint, suggesting that the TON/USDT pair could oscillate between $4.72 and $7.67 for some time. If the price rises above $6.73, the pair may reach the overhead resistance of $7.67.
On the contrary, if the price continues lower and breaks below the 50-day SMA, it will signal that the bears have the edge in the short term. That could open the doors for a fall to $5.50 and later to $4.72.
