📊Toncoin (TON) Price Analysis 📉
TON Struggles Below Key $6 Resistance
Toncoin (TON) continues its bearish trajectory this week, despite a brief recovery over the weekend. After failing to maintain its position above the crucial $6 level last Friday, TON turned bearish, dipping below the 20 and 50-day SMAs and dropping over 6% to $5.36 on Tuesday.
Recent Price Action 📊
• Wednesday & Thursday: TON saw further declines, hitting a low of $5.14 on Thursday, but managed a slight recovery, closing at $5.33 after a 0.49% increase.
• Friday: The upward trend continued, with a 1.51% gain, pushing the price to $5.41. However, buyers failed to push above $5.50.
• Weekend: TON experienced volatility, declining by 4% on Saturday but recovering by 1.43% on Sunday, closing at $5.30.
• Current Session: TON dropped by 1.52% on Monday to $5.22 and is currently down another 1.29%, as sellers aim to push the price below $5.
What’s Next for TON? 🔮
• Bullish: If buyers regain control, TON could attempt another push towards $5.50 and potentially retest the $6 level.
• Bearish: Continued selling pressure could push TON below the $5 support, possibly opening the door for further declines.
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