U.Today - Most of the coins have failed to come back to the green zone, according to CoinStats.
TON chart by CoinStats
TON/USD
Toncoin (TON) is an exception to the rule, rising by 2.78% over the last day.
On the hourly chart, the rate of TON has broken the local resistance level of $5.580. If the daily bar closes above it, growth may lead to a test of the $6 area soon.
A less bullish situation can be seen on the bigger time frame. Neither bulls nor bears have accumulated enough strength to either grow or fall.
In this regard, consolidation in the zone of $5.50 and $6 is the more likely scenario until the end of the week.
On the weekly chart, the rate of TON is near the support of $4.721. If the candle closes near that mark, one can expect a breakout, followed by a dump to the $4-$4.50 range.
TON is trading at $5.607 at press time.
This content was originally published on U.Today
