U.Today - The market is mainly bullish today, however, some coins remain in the red zone, according to CoinStats.
TON/USD
Toncoin (TON) is one of the biggest gainers today, rocketing by 17%.
Despite today’s sharp rise, the price of TON is looking bearish on the hourly chart. If the breakout of the local support happens, the decline may lead to the test of the $3.350 zone by tomorrow.
On the bigger time frame, bulls have failed to keep rising after yesterday’s bullish closure.
If the bar closes far from the $3.626 level, sellers may seize the initiative, followed by a correction to the $3.20 zone.
On the weekly chart, neither bulls nor bears are dominating. If the bar closes around current prices, sideways trading in the area of $3.20-$3.80 is the more likely scenario by the end of the month.
TON is trading at $3.413 at press time.
This content was originally published on U.Today
