Toncoin (TON) Price Prediction for January 4

Bulls are more powerful than bears at the beginning of the weekend, however, there are some exceptions, according to CoinStats.

TON/USD

The rate of Toncoin (TON) has gone up by 1.09% since yesterday.

On the hourly chart, the price of TON is closer to the resistance than to the support. If a breakout of the upper level happens, the accumulated energy might be enough for a blast to the $5.88 range.

On the bigger time frame, traders should focus on the nearest level of $5.873. If bulls’ pressure continues and the price reaches that mark, the growth may lead to a test of the $6 area shortly.

On the weekly chart, sideways trading is the more likely scenario until mid-January. Volatility keeps falling, which means neither side has enough strength for a sharp move.

All in all, traders may witness a consolidation in the range of $5.4-$6 over the next few weeks.

TON is trading at $5.744 at press time.

Source