Toncoin (TON) Price Prediction for July 16

The rise of some coins continues, according to CoinStats.

TON/USD

The price of Toncoin (TON) has fallen by 0.82% over the last day.

On the hourly chart, the rate of TON is coming back to the local support level of $7.33. If buyers cannot seize the initiative by the end of the day, we can expect a breakout, followed by a move to the $7.25 area.

Bulls have failed to keep the rise after the bullish closure. If the bar closes below yesterday’s candle’s low, the correction may continue to the $7 range shortly.

From the midterm point of view, the rate of TON has failed to fix above the $7.50 range.

However, if buyers seize the initiative and the weekly bar closes above the previous candle’s high, traders may witness a test of the $8 range.

TON is trading at $7.35 at press time.

Source