Toncoin (TON) is struggling to bounce from the moving averages, indicating a lack of buying power at higher price levels.
Daily TON/USDT chart | Source: TradingView
The bears will try to strengthen their position by pulling the price below the moving averages. If successful, the TON/USDT pair could drop to the support zone of $4.72 to $4.44. Buyers are expected to strongly defend this zone because if the price closes below $4.44, the bearish head and shoulders pattern will be completed, potentially pulling the price down to $3.50.
On the flip side, the bulls need to push the price up and maintain above $6 to signal a comeback. At that point, the pair could climb to $7.
