The price of Toncoin (TON) has been steadily rising since breaking above the moving average lines on July 14.
Toncoin price long-term prediction: bullish
TON has been trending sideways since April 6. The altcoin has remained in a price range of $2.60 to $3.60. Today, the uptrend has reached a high of $3.15.
If the buyers overcome the resistance at $3.60, the positive momentum will continue up to $4.20. A breakout above the high of $4.20 indicates a continuation of the positive momentum.
However, the sideways trend could continue if the altcoin turns down from the $3.60 barrier. TON will fall above the moving average lines or above the critical support at $2.60.
Toncoin price indicators analysis
The price bars are above the horizontal moving average lines due to the current sideways trend. On the 4-hour chart, the moving average lines are sloping upwards in a sideways trend. The 21-day SMA is above the 50-day SMA, indicating an uptrend.
Technical Indicators
Resistance Levels: $6.00, $8.00, $10.00
Support Levels: $5.00, $3.00, $1.00
What is the next move for Toncoin?
TON has started to rise and is in a horizontal trend. The upward trend has been interrupted by resistance at $3.40 and $3.60. The altcoin will start to move sideways if it encounters rejection at the recent high. The horizontal trend will be broken if buyers maintain their upward momentum above the $3.60 level.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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-rises-steadily/