{"id":634877,"date":"2024-08-12T12:30:38","date_gmt":"2024-08-12T12:30:38","guid":{"rendered":"https:\/\/ktsl888.com\/?p=634877"},"modified":"2024-08-12T10:16:04","modified_gmt":"2024-08-12T10:16:04","slug":"toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/toncoin-ton\/toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown\/","title":{"rendered":"Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?"},"content":{"rendered":"
Toncoin’s recent bullish momentum has faced a sudden reversal, as the cryptocurrency has slipped back to the critical $6 level. After showing promising signs of a rally, TON faced increased selling <\/span>pressure<\/span><\/a>, forcing it to retreat to this key support zone. The question here is, Can the bulls defend this level and prevent a deeper bearish breakdown, or is Toncoin poised for a further decline as bearish sentiment grows?<\/span><\/p>\n Addressing this subject, this article seeks to provide a detailed analysis of Toncoin’s recent price action, focusing on the sudden halt in its bullish<\/a> momentum and its retreat to the critical $6 support level.\u00a0 Additionally, it will assess what to watch for in Toncoin’s price movements and anticipate its next moves.<\/span><\/p>\n Toncoin<\/span><\/a> has dropped by 5.19%, currently trading around $6.27 over the past 24 hours. Its market capitalization stands at over $15 billion, with a trading volume exceeding $373 million at the time of writing. TON’s market cap has decreased by 5.21%, while its trading volume has surged by 43.65%<\/span><\/p>\n Currently, the price of TON on the 4-hour chart is demonstrating a bullish comeback after hitting the $6 mark and is attempting to move above the 100-day Simple Moving Average (SMA) toward the $6.7 mark.\u00a0<\/span>This, therefore, suggests that the\u00a0<\/span>bulls<\/a> are gradually gaining strength over the bears and could further drive the price higher.<\/span><\/p>\nThe $6 Battleground: Will Bulls Stand Strong?<\/strong><\/h2>\n