The cryptocurrency market is showing positive trends, despite some corrections in the prices of certain tokens.
Short-term Changes in TON Pricing
The rate of Toncoin (TON) has risen by 2.71% over the last 24 hours. However, on the hourly chart, the price is declining after hitting a local resistance of $3.711. If the decline continues, a test of the support level at $3.551 may occur by the end of the week.
Long-term Analysis of TON Value
On the daily time frame, the picture is bearish as the rate is near the local support of $3.497. If a breakout occurs, traders might witness a test of the $3.40 range shortly.
Forecast: What to Expect Next
From a mid-term perspective, there are no reversal signals yet. If the weekly bar closes below the previous candle low, one can expect a drop to the $3 area by the end of the month.
The current price of Toncoin is $3.588. The market remains in a stage of observing potential changes and possible corrections.
