Toncoin (TON) recently experienced a brief setback as its price dropped from $5.55 to $5.20. Despite this, various indicators point towards a possible rebound.
The On Balance Volume (OBV) indicator, which uses trading volume to predict price movements, has spiked for TON, indicating more buying than selling. This suggests the potential for price gains.
Crypto analyst TheMoonCarl also observed a double-bottom pattern, indicating that sellers are losing momentum, thus a price reversal is likely. This could help TON surpass $6 if it breaks the falling trendline.
The Awesome Oscillator (AO) shows a solid support zone at $4.95. The green histogram bars suggest that the current bearish trend might be short-lived. Combined with other indicators, this suggests a price target of $6.69, potentially reaching up to $7.61 in favorable conditions.
However, if TON fails to maintain above $5, it could drop below $4.95.
