Toncoin (TON) Prediction for August 28

08/28/2024 22:37
Toncoin (TON) Prediction for August 28

How long may accumulation period of Toncoin (TON) last?

Original U.Today article

Toncoin (TON) Prediction for August 28

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Most of the coins have failed to come back to the green zone, according to CoinStats.

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TON chart by CoinStats

TON/USD

Toncoin (TON) is an exception to the rule, rising by 2.78% over the last day.

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Image by TradingView

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.

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Image by TradingView

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. 

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In this regard, consolidation in the zone of $5.50 and $6 is the more likely scenario until the end of the week.

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Image by TradingView

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.

About the author

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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