coinidol.com
The price of Toncoin ($TON) has risen above the moving average lines since the bottom of the chart.
Toncoin price long-term prediction: bullish
This is the second time that buyers have tried to push the price above the moving average lines. On July 6, $TON fell well below the moving averages as buyers failed to keep the price above the moving averages.
Today, $TON is expected to rise to historical highs of $3.40 and $3.60. If the bulls break through the $3.60 level, $TON will break out of its sideways trend between $2.60 and $3.60. $TON will start its uptrend. If the price of the cryptocurrency falls below the 50-day SMA, the altcoin will return to its previous range above the $2.60 support.
Toncoin price indicators analysis
$TON has risen above both the 21-day and 50-day moving average lines. This indicates that the cryptocurrency could be in an uptrend. Since June 12, as reported by Coinidol.com, $TON has been trading in a bearish trend zone. The breakout will indicate the continuation of the uptrend. On the 4-hour chart, the price bars are above the moving averages.
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?
Toncoin has resumed its uptrend on the 4-hour chart. However, the uptrend has come to an end after reaching the $3.00 resistance level on July 11.
In the last 48 hours, the altcoin has been trading above the 21-day SMA but below $3.00. If the bears break through this support, the current uptrend will come to an end. The altcoin will continue to rise if the bulls break above $3.00.
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.