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Toncoin (TON) on Verge of Major Price Move as Indicator Flashes Green
As the cryptocurrency market continues to exhibit volatility, Toncoin (TON) has been making waves recently, and a decisive break above the daily Simple Moving Average (SMA) 50 at $5.883 might be all it takes to kickstart a fresh bullish move for this digital asset.
According to a recent analysis by Tomiwabold Olajide, a cryptocurrency analyst and experienced technical analyst, TON might consolidate for a little while in the short term before making its next major move. The daily Relative Strength Index (RSI) near the midpoint also suggests that the market may need some time to stabilize.
As for what this could mean for investors, it’s important to note that if the daily SMA 50 is indeed breached, we might see a rapid price increase towards $6 and possibly even $7 or higher. However, should the current support levels at $4.50 and $5 fail to hold, we may be looking at a decline in value.
It’s essential for traders and investors alike to carefully monitor market developments and make informed decisions based on accurate information.
Source: u.today
