Toncoin (TON) experienced a significant loss in value today, dropping by 7.39%. The hourly chart shows TON trading between the support level of $6.05 and the resistance level of $6.204. With most of the Average True Range (ATR) already passed, it is unlikely that there will be any sharp movements by the end of the day.
Looking at the bigger time frame, it is crucial to monitor the key level of $6. If the price falls below this level, there could be a continued decline towards the $5.50 range in the coming week.
From a midterm perspective, there are currently no signals indicating a reversal. If the weekly candle closes around the current prices, there might be enough accumulated energy for a potential test of the $5-$5.50 zone in the near future.
As of now, TON is trading at $6.133.