TON Remains Firm Above the $1.45 Support

Toncoin’s (TON) price has resumed its sideways movement at the bottom of the chart.

Toncoin price long-term forecast: bearish

Since November 21, the cryptocurrency has moved sideways, remaining above the $1.40 support and below the moving average lines. The formation of Doji candlesticks has caused the altcoin to trade within a range. Doji candlesticks indicate traders’ uncertainty about the market direction.

On the downside, if the bears push the price below the $1.40 support, TON will continue to decline, potentially returning to its October 10 price level of $0.70.

However, the altcoin is correcting upwards towards the 21-day SMA. A break above the 21-day SMA will allow the altcoin to continue its bullish movement, rising towards the 50-day SMA or the $2.00 level. Meanwhile, the altcoin is trading sideways above the $1.40 support. TON is currently at $1.62.

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 moving average lines are sloping downwards, with the price bars positioned below them. The price bars are below the 21-day SMA. Selling pressure will resume whenever the cryptocurrency price is rejected at the 21-day SMA.

However, a bullish trend will begin once the price breaks above the 21-day SMA. On the 4-hour chart, the price bars are above the moving averages.

What is the next move for TON?

TON’s price has remained sideways above the $1.45 support. The price has risen above the moving average lines; however, upward momentum is limited by resistance at $1.65. The Doji candlesticks have appeared as the cryptocurrency maintains its range-bound movement above the moving average lines. When range-bound levels are breached, the altcoin will trend.

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.