Toncoin (TON) has dropped to $1.82, falling twice below the previous support at $2.00.
Toncoin price long-term forecast: bearish
The cryptocurrency was trading within a range above the $2.00 support level before this was breached. The current price range lies between the $1.80 support and the moving average lines. Bears are aiming to break the $1.80 support level and push the price down to $1.17 and $0.70. On October 10, the negative trend broke below the $1.17 low and reached $0.70, but bulls bought the dips. At the time of writing, TON is trading at $1.83.
Toncoin indicator analysis
TON is now trading at the bottom of the chart. The long candlestick tails at the bottom indicate significant buying pressure. Doji candlesticks dominate the price action, keeping the price within a range.
What is the next move for Toncoin?
TON has fallen to a low of $1.79 but has held above the $1.80 support level. The altcoin’s upward movement has stalled below the $1.85 high and has started to trend downwards. If bears break below the $1.80 support, TON will resume its decline.
Meanwhile, the cryptocurrency price is oscillating above its current support at $1.80.
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.
Source: https://coinidol.com/ton-continues-decline/
