TON Slides Sideways Above $1.30

Toncoin’s (TON) price has moved sideways since falling below the moving average lines.

TON price long-term forecast: ranging

Selling pressure eased after reaching a low of $1.13 on February 6. The cryptocurrency corrected upwards and broke through the 21-day SMA barrier.

However, the upward trend was halted by resistance at $1.50. TON is now range-bound above the $1.30 support but remains below the moving average lines and the $1.50 resistance. The formation of Doji candlesticks has caused the price to drift laterally.

On the downside, selling pressure will resume if bears break below the $1.30 level, and TON will return to the October 10 price level of $0.70. Currently, TON is at $1.34.

Technical Indicators

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

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

TON price indicators analysis

The price is trading below the horizontal 21-day and 50-day moving averages, indicating a sideways trend. Price movement has remained steady due to the consolidation of Doji candlesticks. The cryptocurrency fluctuates above and below the horizontal moving averages.

What is the next move for TON?

TON’s price is holding above $1.30 and continues its sideways movement. On the 4-hour chart, the price is in a narrow range above the $1.30 support but below the 21-day SMA barrier. Since February 20, buyers have struggled to keep the price above the 21-day SMA barrier. TON will resume its bullish ascent when buyers maintain the price above the moving average lines. Otherwise, the altcoin will continue its range at the bottom of its chart.

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.