TON's price has risen recently. Can it break through the $6 mark?
In the past 24 hours, TON's price has risen by 4.73%. Although the momentum is good, this currency is still under considerable pressure, which makes its price rebound a bit bumpy. Especially those participants in Telegram's native tokens, their actions may be slowing down TON's rise.
Speaking of TON's experience, it is really twists and turns. According to data, the profit and loss ratio of transactions on the chain has now soared to a new high since February. It's like people in the market are playing on a seesaw. Some people want to run when they make money, and some people want to wait when they lose money. With this mentality, the price of TON is like riding a roller coaster.
Take a look at the bull and bear market indicators again. It tells us that there are more people selling TON than buying TON. This is not a good sign. It may mean that this wave of rise is coming to an end.
As for what everyone is most concerned about, can TON stand at $5? It is currently rising from $5.06 and is now about to touch $5.1. It looks like it's just a breath away. However, the Stochastic Relative Strength Index (RSI) is not very impressive and is still hovering below the neutral line, which means that TON may not have enough momentum and may have to pull back.
If it does pull back, TON may first retreat to $4.69 to catch its breath. If it fails to hold, it may have to fall further to $4.47. However, if the market sentiment suddenly improves, TON may be able to counterattack and slowly reach $6.
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