TON Stabilises Above the $1.50 Low

Toncoin (TON) is trading near the bottom of the chart. Price movement has stalled and is stabilising above the $1.50 support level.

TON price long-term forecast: bearish

As reported by Coinidol.com, since January 20, the price has remained flat, with Doji candlesticks appearing. On the downside, if the bears push the price below the $1.50 support, TON could fall to $1.42.

Meanwhile, TON continues to trade above the $1.50 support. The formation of Doji candlesticks has limited upward movement. TON is currently at $1.52.

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 indicators analysis

At the bottom of the chart, TON price bars are clustering. The moving average lines are arranged horizontally, with the price bars positioned below them. On the 4-hour chart, the previously downward-sloping moving average lines have shifted to a horizontal pattern. The price bars remain stuck below the moving average lines.

What is the next move for Toncoin?

TON is currently trading at the bottom of the chart. On the 4-hour chart, the cryptocurrency is consolidating above $1.50 but remains below the moving averages. The 21-day SMA acts as a barrier to upward movement. The Doji candlestick pattern is restricting price movement.

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.