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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.