U.Today - The market keeps setting new local peaks, according to CoinStats.
TON chart by CoinStats
TON/USD
The price of Toncoin (TON) has increased by 4.12% since yesterday.
Despite today's growth, the rate of TON keeps looking bullish. On the hourly chart, it is about to break the resistance of $5.636. If it happens and the daily candle closes with no long wick, the upward move can continue to the $5.70 mark.
A similar picture can be seen on the bigger time frame. If the price reaches the resistance of $5.667 and bulls can hold the gained initiative, growth may lead to a test of the $6 range within the next few days.
A different situation can be seen on the weekly chart. Even if the candle closes bullish, one cannot expect a fast reversal.
All in all, consolidation in the area of $5.50-$6.50 is the more likely scenario until the end of the month.
TON is trading at $5.638 at press time.
This content was originally published on U.Today
