coinidol.com
Toncoin ($TON) has maintained a sideways trend below the $3.60 barrier.
Toncoin price long term forecast: bullish
Buyers have consistently failed to keep the price above the $3.60 barrier. Today, the price of the cryptocurrency rose to a high of $3.60 before falling. If $TON falls from its recent high, a drop to the $2.60 price level is imminent.
Every time the crypto price is rejected at its current high, it falls and returns to the lower $2.60 price area. After the recent drop, $TON is trading within a range of $2.60 to $3.60. $TON is now at $3.50.
Analysis of the $TON indicator
On July 22 and 31, as reported by Coinidol.com, the extended candle wicks at $3.60 signalled considerable selling pressure at the most recent high. Since April 1, the cryptocurrency price has failed to sustain its bullish momentum above $3.60. The moving average lines have remained constant during the sideways trend. Doji candlesticks dominate price activity.
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 continues its sideways movement as it pulls back from the $3.60 level. The altcoin is trading below the previous high but above the moving average lines as the trend is determined. If the price falls below the moving average lines, $TON will return to $2.60.
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.