CandleFocus Toncoin (TON) Struggles to Stay Afloat as $4 Target Looms
2024-10-02
Author: Content Editor
The price of Toncoin (TON) recently retested the $6 level for the first time in over a month but quickly dropped to $5.40. The coin is facing challenges and on-chain data shows a surge in realized losses, indicating a lack of investor confidence in a rebound. Technical analysis suggests that the trend is bearish, with the possibility of the price falling below $5 soon. Support at $5.41 has been broken and resistance at $5.68 could make a rebound difficult. The coin's price could potentially drop to $4.89 or even $4.63 in a highly bearish scenario, but if the resistance is broken, the price could rise to $6.69 or $7.29 in a bullish situation.
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