Toncoin (TON) price has fallen above the $4.50 support level since September 4 and has fluctuated between $4.50 and $6.00.
Long-term TON price forecast: range
According to Coinidol.com, TON has been trading below the moving average lines since October 1st. Price growth was slowed by moving average lines. The presence of Doji candles also caused a sustained price movement. The price of TON fell and has now recovered to $4.57, the current support level. The uptrend was stopped by the 21-day SMA. TON is currently trading in a tight range between support at $4.50 and the 21-day SMA below resistance.
TONE indicator
Price bars are below descending moving averages. Moving average lines act as resistance for price bars. Doji candles are dominating price action and slowing gains above the $4.50 support level. This symbolizes traders who are unsure of the direction of the market.
Technical indicators
Resistance levels: $6.00, $8.00, $10.00.
Support levels: $5.00, $3.00, $1.00.
What’s Toncoin’s next step?
TON is moving sideways above the $4.70 support on the 4-hour chart. Although the altcoin is trading below the moving average lines, it is above the current support level at $4.70.
TON rises to retest the moving average lines. TON rises to retest the moving average lines. Bears lose control of the resistance level when they break above the moving average lines. A reaction of rejection will show that the bears are in charge here. TON will either continue to move sideways or roll back.
Disclaimer. This analysis and forecast are the personal opinion of the author. They are not a recommendation to buy or sell cryptocurrency and should not be considered an endorsement by CoinIdol.com. Readers should conduct research before investing in the funds.
