Toncoin (TON) Price Prediction for October 12

Bulls are controlling the situation on the market today, according to CoinStats.

TON/USD

The price of Toncoin (TON) has increased by 1.13% over the last day.

Despite today’s growth, the rate of TON is looking bullish on the hourly chart. If the daily bar closes near the resistance of $5.302 or above it, the rise may lead to a test of the $5.40 range tomorrow.

On the bigger time frame, the price of the altcoin is rising after yesterday’s bullish closure. If nothing changes by the end of the day, the upward move is likely to continue to the interim zone of $5.40 within the next few days.

From the midterm point of view, one should pay attention to the weekly candle closure in terms of the previous bar low.

If it happens far from $5.137, bulls may locally seize the initiative, which can lead to a bounce back to the $5.40 range.

TON is trading at $5.280 at press time.

Source