TONCOIN price prediction suggests that the TON crypto is presently moving on an uptrend after breaking out of the bear’s stronghold. The price is trading above the critical 50 EMA on the daily timeframe. The volume is seeing a slight decline which indicates that there is a fall in buying and selling activity.
If the price gains buyers’ support at the present level, it could surge towards $1.5 within the next few weeks above the 100 EMA which is the immediate support level. The price movements are relevantly more stable for TON crypto than other major cryptocurrencies.
The buyers have an adequate probability of attaining the expected target if they are able to sustain the price above the 100 EMA which would put the anticipated outcomes in the bulls’ favor
The present value of TON is $1.44 and it has a market capitalization of around $4.946 Billion (press time) TONCOIN price has been trading in a bull trend for the past few months. After breaking out, TON crypto price found consistent support from the bulls from the trendline. Observing the historical price action, it can be estimated that the 100 EMA level has been acting as a crucial demand zone.
Technical Analysis of TONCOIN Crypto Price in 1-D Timeframe
Currently, TONCOIN crypto (USD: TON) is trading above the 20, and 50-day simple moving averages, supporting the price momentum.
Nevertheless, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the TONCOIN price is expected to move upward giving bullish views over the daily time frame chart.
The current value of RSI is 58.40 points. The 14 SMA is above the median line at 55.64 points which indicates that the TONCOIN crypto is bullish.
The MACD line at 0.02385661 and the signal line at 0.01153373 are above zero. A bullish crossover is observed in the MACD indicator.
Summary
Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. TONCOIN (USD: TON) technical oscillators also support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the TON crypto price. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: Nearest support levels are $1.300 and $1.200.
- Resistance Levels: Nearest resistance levels are $1.500 and $1.600.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/25/toncoin-crypto-price-prediction-will-ton-hit-2-in-2023/