TON Exhibits Strong Buying Pressure above $1.20

Toncoin’s (TON) price has fallen below the moving average lines but remains above the key support level of $1.20.

TON price long-term forecast: ranging

Since February 6, negative momentum has reached the $1.20 support level four times, with bulls buying the dips. However, buyers have not managed to sustain bullish momentum above the moving average lines over the past month. The moving average lines have acted as resistance to price increases.

Now, the cryptocurrency price is rising, but it has been capped at a high of $1.25. This suggests that TON will continue to trade below the moving average lines for several days. TON is currently at $1.22.

Technical Indicators

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

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

Toncoin indicators analysis

The cryptocurrency price remains below the moving average lines as TON continues to range. The moving average lines are horizontal, and the 21-day SMA is below the 50-day SMA, indicating a downward trend. On the 4-hour chart, the cryptocurrency price has dropped below the downward-sloping moving average lines, signalling a decline.

What is the next move for Toncoin?

The TON price has risen above its crucial support at $1.20. On March 30, as Coinidol.com wrote, a long candlestick tail crossing the $1.20 support indicated significant buying pressure.

The TON price has increased, but the upward movement has been limited by the 21-day SMA barrier on the 4-hour chart. TON is trading within a narrow range, above the $1.20 support but below the 21-day SMA barrier.

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.