Toncoin (TON) is trading below the moving average and approaching the previous low of $2.80.
Toncoin price long-term prediction: bearish
The cryptocurrency is trading above the $2.80 support and below the $3.40 resistance level.
Today’s price action was limited to the $2.80 support and below the moving average lines. The price has remained steady and is hovering above the support level of $2.90.
Should the altcoin fall below the current support level, it will drop to $2.80. A break above the moving average lines would mark the beginning of an uptrend.
TON will rise to the first hurdle of $3.40 or $3.60. In the meantime, TON will stabilize above the $2.90 support and fluctuate below the moving average lines. TON is valued at $2.97 at the time of writing.
TON price indicators analysis
For several weeks, the price has fallen below the moving average lines, with the long candle tails pointing above the support at $2.80. This shows that there is significant buying demand above the $2.80 support level.
However, the Doji candlesticks have returned to the downtrend zone as altcoin prices rise above current support. The moving average lines are horizontal as TON continues to move sideways above the $2.80 support.
Technical Indicators
Resistance Levels: $6.00, $8.00, $10.00
Support Levels: $5.00, $3.00, $1.00
What is the next move for Toncoin?
TON is falling below the moving average lines and fluctuating above the $2.80 support level.
On the 4-hour chart, TON is in a sideways trend, fluctuating between the support of $2.90 and the resistance of $3.20 or the moving average lines. The altcoin is currently fluctuating below the moving average lines, indicating the possibility of a positive trend.
Coinidol.com reported on May 17 that TON slipped back into its previous range of $2.80 to $3.40 and thus below the resistance level.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
