The price of Toncoin (TON) remains at the bottom of the chart. The altcoin is moving in a limited range between the $2.50 support and below the $4.00 resistance.
TON price long-term prediction: bearish
TON is losing ground after two rejections at the $4.00 high. The decline was halted above the $2.50 support level. If the price falls below the $2.50 support level, selling pressure will increase again.
The negative trend will continue down to the lows of $2.00 and $1.10. However, the price indicator suggests that TON will continue to fall and reach the Fibonacci extension level of $2.618. At the time of writing, TON is trading at $3.19.
Analysis of the TON indicator
The moving average lines running downwards on the daily chart are now horizontal. The moving average lines are above the price bars. The price bars are above the moving average lines of the previous price movement.
The altcoin was pushed back at its last high, so the gains were temporary.
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 continues to move sideways as the altcoin remains above eways as the altcoin remains above the $2.50 support.
Since March 10, as reported by Coinidol.com, TON has been trading below the $4.00 level and between the $2.50 support. Above the $4.00 mark, the uptrend for TON will continue. However, the price indicator on the weekly chart forecasts a further decline above the lowest price 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.
