The Toncoin (TON) Price Forecast: Will The Altcoin Recover?
The Toncoin (TON) price has recently dropped below the moving average lines after being in a sideways trend below the overhead barrier at $8.00. What lies ahead for this altcoin in the near future?
Long-term outlook for Toncoin: bearish
After remaining in a range above the moving average lines but below the $8.00 resistance level, TON has once again faced selling pressure, resulting in a drop below the moving average lines to $6.67. The altcoin is projected to decline further to $4.57 as it approaches the previous low of $6.38.
Toncoin’s Indicator Analysis
Following the recent decline, the price bars on both charts have fallen below the moving average lines, with a bearish crossover observed in the moving average lines. The 21-day SMA has crossed below the 50-day SMA, signaling a bearish trend ahead.
Technical Indicators
- Resistance Levels: $6.00, $8.00, $10.00
- Support Levels: $5.00, $3.00, $1.00
What Lies Ahead for Toncoin?
As TON drops below the moving average lines and approaches its previous low of $6.38, which was recorded on July 5, the sideways trend may persist if the altcoin manages to hold above this level. With the current price range oscillating between $6.38 and $8.00, breaking through these support and resistance levels will determine the future performance of this cryptocurrency.
The Future of Toncoin & What to Expect Next
Stay tuned for more updates on Toncoin as the altcoin navigates through a challenging market environment. Keeping an eye on key support and resistance levels will be crucial in determining the future trajectory of this digital asset. Let’s see what the near future holds for Toncoin and how it may recover from its recent setbacks.
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