Toncoin Price Analysis: Will TON Face a Massive Correction Soon?

The crypto market is weak, with top tokens struggling to hold their support levels, suggesting a cool-off and potential accumulation period before a bull run. Toncoin (TON) has corrected by 4.57% in the past week and 3.53% in the last 30 days but saw a bullish jump of 3.85% in the past day, hinting at a possible trend reversal.

Key Points:

- TON is trading between $6.220 and $7.400.

- Recent positive price action could lead to testing its resistance level.

- Current trading price: $7.126, with a market cap of $17.25 billion.

- Technical indicators (SMA and MACD) suggest bearish trends.

Outlook:

- If TON surpasses $7.40, it may retest its previous ATH and aim for $8.60.

- If bears dominate, TON might fall to its support level of $6.220 or even $5.155.

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