CandleFocus Toncoin Consolidation Nears Key Support—Is Accumulation the Right Strategy at $4.5?
2024-10-04
Author: Content Editor
The price of TONcoin ($TON) has been trading within a range of $5 to $8 since March. However, since June, it has been forming lower highs and lower lows, suggesting a weakening pattern. Analysts believe that if this bearish trend continues, $TON could potentially reverse back to the $4.5 support level. Traders are advised to closely monitor this support level and accumulate $TON at critical support levels. The overall price of $TON is also influenced by the dominance of Bitcoin in the crypto market, which currently suppresses demand for altcoins. Investors should exercise caution as $TON is in a downtrend and its performance is dependent on Bitcoin's dominance.
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