Toncoin (TON) Price Prediction for May 30

Sellers are still dominating over buyers, according to CoinStats.

TON/USD

The rate of TON has reduced by 0.4% over the last day.

On the hourly chart, the price of the altcoin is in the middle of a local channel, between the support of $6.3715 and the resistance of $6.5658.

However, if buyers can hold the initiative and return the rate to the upper line, the energy might be enough for a breakout, followed by a move to $6.65.

On the daily time frame, one should pay attention to the resistance of $6.7275. At the moment, the rate of TON is far from this mark, which means that ongoing sideways trading in the zone of $6.40-$6.60 is the more likely scenario.

From the midterm point of view, none of the sides is dominating. Such a statement is also confirmed by low volume. Likewise, there are low chances of seeing any sharp moves.

TON is trading at $6.4928 at press time.

Source