Toincoin Price Gains But Is Rejected At $3.80

The price of Toncoin ($TON) has rallied above the $3.55 support but was stopped by the 21-day SMA.

Toncoin price long term forecast: bearish

$TON will return to its range if it falls below the 21-day SMA. The price of the cryptocurrency will fall and fluctuate between $3.40 and $3.50.

However, if the negative trend continues and $TON breaks below the current support, it will return to the previous low at $3.38, as Coinidol.com reports. $TON will return to its uptrend once it breaks above the 21-day SMA. The 50-day SMA barrier will be reached by the upside momentum. The price is at $3.77 and falling today.

Analysis of the $TON indicator

The negative trend is indicated by the price bars below the moving average lines. The moving average lines on the 4-hour chart have been pushed up by buyers, indicating that the $TON is rising.

However, the current sideways trend is indicated by the horizontal divergence of the moving average lines.

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?

The price of $TON is fluctuating sideways between $3.50 and $4.00. The cryptocurrency has broken above the moving average lines today. But resistance at $3.80 has rejected the uptrend. $TON is recovering as it remains above the $3.38 support.

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 Coin Idol. Readers should do their research before investing in funds.