Toncoin Targets Its Bottom Price at $0.57

For the past five days, the altcoin has traded above the $1.45 support level and below the $1.60 peak.

Toncoin price long-term forecast: bearish

TON will resume its upward trend if it breaks through the initial resistance at $1.60. The altcoin could then rise to the 21-day SMA barrier or the $1.80 high.

However, if the cryptocurrency continues to depreciate and falls below the current support level of $1.45, TON may return to the $0.70 price level from October 10. The altcoin is currently trading at $1.55.

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

Toncoin price indicator analysis

The 21-day and 50-day SMAs have dropped significantly to the bottom of the chart. The price action is characterised by Doji candlesticks, causing the price to move slowly and remain static. On the 4-hour chart, the downward-sloping moving average lines are horizontal, indicating a current sideways trend.

What is the next move for Toncoin?

TON is trading sideways above the $1.45 support. The altcoin remains above the $1.45 support but below the resistance at $1.60. The 50-day SMA and the $1.60 high have both acted as barriers to the upward trend.

Currently, the altcoin is range-bound, but it risks falling below the $1.45 support.

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.