Toncoin Under Pressure As TON Price Falls Below 100-Day SMA, $6 Looms
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Toncoin (TON) has seen a notable price decline, dropping below its 100-day Simple Moving Average (SMA), triggering bearish pressure. This technical breach has raised concerns among investors, with $6 looming as a potential target. Currently, Toncoin trades around $6.75. Despite a short-term bullish correction, momentum may shift toward a bearish trend, potentially driving prices toward the $6 support mark.
Technical analysis indicates that if TON reaches the $6 support mark and breaks lower, it could test further support levels like $4.6. Conversely, a rebound at $6 could see prices rise to $7.75 or even new highs if resistance is broken. The 4-hour and 1-day RSI indicators suggest mixed short-term and long-term momentum, indicating potential bearish shifts.
Source: www.newsbtc.com ↗
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