$TON Price Analysis – 1-Hour Timeframe

Current Price: $4.98 (+0.24%)

In the last hour, Toncoin (TON) has shown a slight increase of 0.24%, reaching $4.98. The chart indicates a steady uptrend with higher lows, suggesting growing buying pressure. The price briefly touched a peak at $4.99 before pulling back slightly, indicating potential resistance at that level.

Key Technical Indicators:

1. Trend: The chart exhibits a general upward trajectory, with $TON forming higher lows and testing the $4.99 level multiple times. This suggests bullish sentiment in the short term, as buyers continue to push the price upward.

2. Support & Resistance Levels:

• Immediate Resistance: $4.99, the recent high, is acting as a resistance. A break above this level could lead to a more significant rally.

• Immediate Support: Around $4.96, where the price found stability during the last dip, serving as a potential floor in case of a pullback.

3. Momentum & Volatility: The upward movement, coupled with brief retracements, reflects controlled bullish momentum. The consistent testing of the $4.99 level shows active buying interest, though the pullbacks indicate cautious profit-taking as well.

Prediction

If TON breaks above the $4.99 resistance, it could enter a new upward phase, potentially moving towards $5.00 or higher in the near term. However, if it faces rejection, a pullback to the $4.96 support level may provide an opportunity for buyers to re-enter.

The technical indicators suggest a bullish outlook for Toncoin in the short term. Traders should monitor the resistance at $4.99, as a break above this level may signal continued upward momentum. Conversely, a pullback to $4.96 could act as a consolidation point before another attempt to break higher #BinanceBlockchainWeek #USJoblessClaimsDip #BinanceLabsInvestsLombard