Toncoin bulls face tough battle – Is $3.6 just a dead cat bounce? – BitRss

• Toncoin maintained a bearish daily market structure.
• The high volume on the recent bounce gave some hope to TON ($3.38) bulls.

Toncoin [TON] holders were not doing well for the most part. Data showed that 96% of holders were underwater, but the token saw a 25% price bounce in the past four days.

Yet, the severity of the downtrend on the daily chart was uninterrupted.

How high could the current bounce go? The $3.85 resistance level was one of the leading candidates for a bearish reversal.

AMBCrypto examined the relevant liquidation heatmaps to understand TON’s potential price moves.

Toncoin to climb to $3.6 before bearish reversal