Toncoin (TON) Price Prediction for June 5

The decline has not lasted long, as most of the coins are in the green area, according to CoinMarketCap.

TON/USD

The price of Toncoin (TON) has risen by 4.95% over the past 24 hours.

Despite today’s rise, the rate of TON is trading near the local support of $7.22. If the bounce back does not happen by the end of the day, there is a chance to see a decline, followed by a move to $7.

On the bigger time frame, bears are also dominating over bulls. If the daily bar closes around current prices, the correction may continue to the $7 area until the end of the week.

From the midterm point of view, the rate is in the middle of a wide channel, which means none of the sides has seized the initiative yet.

Thus, the volume has dropped, confirming the lack of buyers’ and sellers’ energy. All in all, sideways trading around $7 is the more likely scenario.

TON is trading at $7.2527 at press time.

Source