The price of Toncoin (TON) moves above the support of $ 5.00, but below the lines of the sliding medium. Analysis of cryptocurrency prices provided by Coinidol.com.
Long -term forecast Ton price: Bear
Ton fell to a minimum of $ 4.78, despite the fact that the bulls were bought on the fall. Altcoin rose above the support level of $ 5.00, but buyers could not hold the price above the sliding medium lines. Yesterday, the bulls struck the 21-day resistance of SMA, and Altcoin moved between the lines of the sliding medium.
According to the previous price forecast, the Ton falls to the level of Fibonacci’s expansion of 2.0 or $ 3.65 is expected. However, bulls hold support of $ 5.00.
Now the price of cryptocurrency is clamped between the lines of the sliding average, and Ton will move as soon as the sliding medium lines are penetrated. Ton consolidates its 21-day SMA support. It will fall as soon as the 21-day SMA support is broken, and first will fall to the previous minimum of $ 5.00.
Toncoin indicators analysis
The price bars are located between the lines of the sliding medium, which indicates the range of cryptocurrency. Duja candles make price bars move steadily. The sliding medium lines are tilted horizontally, which indicates the side trend.
Technical indicators
Resistance levels: $ 6.00, $ 8.00, $ 10.00.
Support levels: $ 5.00, $ 3.00, $ 1.00.
What will happen next with Toncoin?
On a 4-hour graphics, Altcoin is traded in a narrow range between $ 5.40 and $ 5.80. The ascending trend is restrained by a resistance of $ 5.80. Fitliy candles move to the maximum of $ 5.80. Extended wicks of candles signal the significant pressure of sellers at a recent maximum.
Nevertheless, Altcoin will remain in the trading range, since it is clamped between the lines of the sliding average.
Refusal of responsibility. 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 Coinidol.com as approval. Readers should conduct a study before investing in funds.
