Wednesday has started bullish for the market; however, bears have seized the initiative, according to CoinStats.
TON/USD
The price of Toncoin (TON) has fallen by 2.01% over the last 24 hours.
On the hourly chart, the rate of TON is breaking the local support of $3.585. If the daily bar closes below that mark, one can expect a test of the $3.50 zone soon.
On the bigger time frame, the picture is also bearish. Traders should focus on the support level of $3.523.
If the candle closes below that mark, the accumulated energy might be enough for a test of the $3.20-$3.30 zone.
From the midterm point of view, the price of TON is falling after a false breakout of the resistance of $3.903. If the situation does not change, traders may witness a test of the $3 zone soon.
TON is trading at $3.549 at press time.
