Toncoin

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The weekend has started with an ongoing market drop, according to <a href="https://u.today/ethereum-eth-prediction-for-august-2">CoinMarketCap</a>.
<img data-entity-type="file" data-entity-uuid="91825570-a67f-45e6-886d-4bb4f841dd4c" src="https://u.today/sites/default/files/inline-images/top10_1272.png">Top coins by <a href="https://coinmarketcap.com/">CoinMarketCap</a>
<h2 class="text-align-justify" id="ton-usd">TON/USD</h2>
Toncoin (TON) has lost a lot of value today, falling by 7.39%.
<img data-entity-type="file" data-entity-uuid="f57d9c72-834f-4c86-885c-11cf54a50d7b" src="https://u.today/sites/default/files/inline-images/ton1_5.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/TONUSDT">TradingView</a>
On the hourly chart, the rate of TON is in the middle of the local channel between the support of $6.05 and the resistance of $6.204.
As most of the ATR has been passed, any sharp moves are unlikely to happen by the end of the day.
<img data-entity-type="file" data-entity-uuid="8a4ca23a-7b9c-462d-ac32-f50b7aa9411f" src="https://u.today/sites/default/files/inline-images/ton2_6.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/TONUSDT">TradingView</a>
On the bigger time frame, one should pay attention to the vital level of $6. If the price gets below it, traders may witness an ongoing decline to the $5.50 range the upcoming week.
<img data-entity-type="file" data-entity-uuid="d8e4fb52-0655-43f3-995f-488638f8fc5a" src="https://u.today/sites/default/files/inline-images/ton3_7.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/TONUSDT">TradingView</a>
From the midterm point of view, there are no reversal signals yet. If the weekly candle closes around the current prices, the accumulated energy might be enough for a test of the $5-$5.50 zone soon.
TON is trading at $6.133 at press time.

Toncoin (TON) Prediction for August 3

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