Toncoin Gains Ground and Rises to $1.93

Toncoin (TON) has resumed its upward trend after breaking above the moving average lines and the $1.70 resistance.

TON price long-term forecast: bullish

The bullish momentum was confirmed when it retested support at the 21-day SMA and continued to advance. The altcoin has moved out of its previous range, surpassing resistance and reaching a high of $1.93. The upward trend is expected to target the previous high of $2.15.

However, the rally will face resistance around $2.20 and $2.40. If TON is rejected at $2.20, it will likely consolidate within a range. The altcoin is trading above the moving average lines and the recent high. TON is currently priced at $1.93.

Technical Indicators

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  Key Resistance Zones: $4.00, $4.50, and $5.00

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  Key Support Zones: $3.50, $3.00, and $2.50

TON price indicators analysis

TON price bars have risen above the downward-sloping moving average lines. The 21-day SMA has crossed above the 50-day SMA, indicating a bullish trend.

On the 4-hour chart, the moving average lines are sloping upwards, confirming the bullish outlook. TON is expected to continue rising as long as the price bars remain above the moving averages.

What is the next move for TON?

TON’s previous bearish trend ended above the $1.45 support level, as it began a bullish move above the moving average lines. The cryptocurrency is forming a pattern of higher highs and higher lows. The price has paused below the $1.95 level. TON is trading in a narrow range, above the 21-day SMA but below the $1.95 resistance. The upward trend will resume once it breaks above the $1.95 mark.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.