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Toncoin (TON) Price Prediction for June 18

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Tue, 18/06/2024 - 15:43
Toncoin (TON) Price Prediction for June 18
Cover image via U.Today

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Bears have seized the initiative again, according to CoinStats.

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TON chart by CoinStats

TON/USD

The price of Toncoin (TON) has dropped by 11.46% over the last day.

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Image by TradingView

Despite today's sharp drop, the rate of TON is looking bearish on the hourly chart. If the daily bar closes around the current prices, the decline may continue to the $6.80 zone tomorrow.

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Image by TradingView

On the bigger time frame, the price of TON has reached the middle of the wide channel. At the moment, traders should focus on the vital area of $7. 

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If its breakout happens, one can expect a test of $6.50 within the next few days.

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Image by TradingView

From the midterm point of view, bears are trying to seize the initiative. If the weekly bar closes with no long wick, the correction may continue to the $6-$6.50 area shortly.

TON is trading at $7.0418 at press time.

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