U.Today - The upward move continues on the market, according to CoinStats.
TON chart by CoinStats
TON/USD
The price of Toncoin (TON) has risen by 3.59% over the last 24 hours.
On the hourly chart, the rate of TON is in the middle of the local channel, between the support of $5.578 and the resistance of $5.820.
As most of the daily ATR has been passed, there are low chances to expect any sharp moves.
On the bigger time frame, the situation has not changed much. The price keeps trading sideways, as none of the sides has seized the initiative yet. In this case, ongoing consolidation in the area of $5.60-$5.90 is the more likely scenario.
From the midterm point of view, traders should focus on the weekly candle's closure. If it happens near its peak, growth may lead to a test of the $6 area soon.
TON is trading at $5.697 at press time.
This content was originally published on U.Today
