Toncoin (TON) Price Prediction for May 16

The market is mainly in the green zone at the end of the week, according to CoinMarketCap.

$TON/USD

The price of Toncoin ($TON) has gone up by 2.87% since yesterday.

On the hourly chart, the rate of $TON is near the local resistance of $3.166. If the daily bar closes around that mark or above it, growth may lead to a test of the $3.22 range soon.

On the bigger time frame, neither buyers nor sellers are dominating. The volume remains low, which means none of the sides is ready for a sharp move.

In this case, traders are unlikely to witness sharp moves shortly.

From the midterm point of view, buyers might need more time to accumulate energy for a further move. At the moment, one should focus on the nearest zone of $3. If it breaks out, the correction may lead to a test of the support of $2.78.

$TON is trading at $3.14 at press time.