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Toncoin (TON) Prediction for August 3

source-logo  u.today 03 August 2024 20:55, UTC

The weekend has started with an ongoing market drop, according to CoinMarketCap.

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TON/USD

Toncoin (TON) has lost a lot of value today, falling by 7.39%.

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On the hourly chart, the rate of TON is in the middle of the local channel between the support of $6.05 and the resistance of $6.204.

As most of the ATR has been passed, any sharp moves are unlikely to happen by the end of the day.

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On the bigger time frame, one should pay attention to the vital level of $6. If the price gets below it, traders may witness an ongoing decline to the $5.50 range the upcoming week.

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From the midterm point of view, there are no reversal signals yet. If the weekly candle closes around the current prices, the accumulated energy might be enough for a test of the $5-$5.50 zone soon.

TON is trading at $6.133 at press time.

u.today