Toncoin (TON) — Why I Remain Cautious!

10 ก.ย.

TON showed some strengths and bounced nicely from its crucial support level at ~4.70, which was important. On the other side, TON is still in some serious trouble:

Strong downtrend with lower highs and lower lows.
Dropped out of the long-term channel.
So far, it couldn't reclaim the channel.
Based on this, I remain cautious about TON. The token needs to return to the bullish channel as a first step. Otherwise, I don't see a long position and expect more downside potential in the mid-term.