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Buyers have seized the initiative again at the end of the week, according to CoinStats.
$TON/USD
The rate of Toncoin ($TON) has risen by 2.41% over the last 24 hours.
On the hourly chart, the price of $TON is looking bullish as it is coming back to the local resistance of $4.975.
If buyers can hold the gained initiative, one can expect a level breakout, followed by a move to the $5 area and above.
A bullish picture can also be seen on the bigger time frame. If the daily bar closes near $4.962, the accumulated energy might be enough for a test of the $5.10 range this week.
A less positive situation can be seen on the weekly chart. Even if the candle closes around the current prices, the rate of $TON might need more time to accumulate energy for a further move. In this case, sideways trading in the zone of $4.80-$5.20 is the most likely scenario.
$TON is trading at $4.956 at press time.
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