Toncoin (TON) Price Prediction for May 23

The market is trading sideways as the prices of some coins are rising, while others are falling, according to CoinStats.

TON/USD

The price of Toncoin (TON) has dropped by 0.3% over the last day.

On the hourly chart, the rate of TON is near the support level of $6.20.

If buyers cannot seize the initiative until the end of the day, the accumulated energy might be enough for a breakout, followed by a move to the $6-$6.10 zone.

On the daily time frame, the price has come back to the support level of $6.2063. If it breaks out, traders may expect an ongoing decline to the $5.8-$6 area by the end of the month.

From the midterm point of view, one should pay attention to the vital zone of $6. If the fall to it continues, there is a chance to see a test of $5.50 shortly.

TON is trading at $6.34 at press time.

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