coinidol.com
Cryptocurrency analysts of Coinidol.com report, Toncoin ($TON) is trending sideways after testing the $8.00 resistance level.
Toncoin price long term forecast: bullish
$TON is in a bull market and has remained on its uptrend since breaking above the $2.80 resistance level. Since April 12, the uptrend has ended, leaving a horizontal pattern. $TON is hovering between the $5.00 and $8.00 price range and buyers have been frantically trading in an attempt to keep the price above the $8.00 overhead bar. If $TON breaks through the overhead barrier, it will rise to $10.42. Each time the overhead resistance is retested, $TON falls below the moving average lines on the downside. $TON has fallen between the moving average lines today. If the price of the altcoin breaks below the moving average lines, it will fall to the current support level of $6.50. If not, it will remain stuck between the moving average lines. At the time of writing, the value is at $7.22.
Toncoin indicator analysis
$TON has fallen between the moving average lines. $TON will fall further if the price falls below the 50-day SMA support. The price will resume its uptrend if it breaks above the 21-day SMA barrier. Despite the decline, the moving average lines on both charts remain horizontal.
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?
On the 4-hour chart, $TON is moving in a range of $6.80 to $8.00. $TON is bearish and approaching the current support level of $6.80. The current support level of $6.80 has held since June 7. If $TON falls and stays above the current support level, there will be a reversal to the upside.
Disclaimer. This analysis and forecast are the personal opinions of the author and 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.