Toncoin (TON) Price Prediction for November 8
11/08/2024 21:50How long can upward move of Toncoin (TON) last?
Original U.Today article
How long can upward move of Toncoin (TON) last?
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Buyers have seized the initiative again at the end of the week, according to CoinStats.
TON/USD
The rate of Toncoin (TON) has risen by 2.41% over the last 24 hours.
On the hourly chart, the price of TON is looking bullish as it is coming back to the local resistance of $4.975.
If buyers can hold the gained initiative, one can expect a level breakout, followed by a move to the $5 area and above.
A bullish picture can also be seen on the bigger time frame. If the daily bar closes near $4.962, the accumulated energy might be enough for a test of the $5.10 range this week.
A less positive situation can be seen on the weekly chart. Even if the candle closes around the current prices, the rate of TON might need more time to accumulate energy for a further move. In this case, sideways trading in the zone of $4.80-$5.20 is the most likely scenario.
TON is trading at $4.956 at press time.
About the author
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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