Toncoin (TON) Price Update

Toncoin (TON) rose to the upper $3.60 price area before retreating. Buyers failed to sustain the bullish momentum above the $3.60 resistance level after breaking through it.

Toncoin Price Long-Term Prediction: Bullish

If the barrier is breached, the positive momentum could extend to a high of $4.20. The cryptocurrency falls after reaching $3.60, marking the fifth time the altcoin has deviated from this resistance zone. If rejected, the altcoin may drop below the moving average lines back to a previous low of $2.60. TON is currently at $3.34, trading above the moving averages.

TON Price Indicators Analysis

The price bars are above the horizontal moving average lines. The moving average lines on the 4-hour chart have started to rise in response to the recent rally.

However, the rally has stalled as TON has fallen from its recent high. Extended candlestick wicks in today’s rallies indicate significant selling pressure near $3.60.

Technical Indicators
Resistance Levels: $6.00, $8.00, $10.00
Support Levels: $5.00, $3.00, $1.00

What is the Next Step for Toncoin?

Despite its recent decline, TON remains in the bullish trend zone. On the 4-hour chart, the altcoin has pulled back above the 21-day SMA support but remains below the $3.60 high. If the price falls below the 21-day SMA support, TON will return to its trading range. Meanwhile, the crypto signal is negative, as buyers have not successfully broken through the $3.60 level.

The price of Toncoin had been steadily rising since breaking above the moving average lines on July 14, according to Coinidol.com.

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 conduct their own research before investing.