The price of Toncoin (TON) continues to range, having broken through the lower $2.80 price range and then retreated.
Toncoin price long term forecast: in range
If the $2.80 support holds, TON will begin its rise within the range. The altcoin is moving between the $2.80 support and the $3.40 resistance, which is keeping its price stable. To reach the moving average lines, the altcoin will hold. The altcoin will reach a high of $3.40 if it breaks above the moving average lines.
However, if the bears manage to break the $2.80 support, the price will fall to the low of $2.40. But the altcoin is still struggling to break above the $2.80 support. The price of the altcoin currently stands at $2.74.
Toncoin indicator analysis
The price bars below the moving average lines, which run horizontally, indicate a decline. On the 4-hour chart, the 21-day SMA is sloping downwards and is below the 50-day SMA. As the price movement is limited by the doji candlesticks, it is consolidating above the existing support.
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 price is fluctuating between its previous lower level of $2.80 and its higher level. If the current support is broken, the bearish momentum will extend to the low of $2.43. The TON price will continue its range-bound movement once it rises back above the $2.80 support 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.