TON Falls On Return To $5.00 Key Support

Cryptocurrency analysts of Coinidol.com report the price of Toncoin (TON) has remained above the $5.00 support but below the moving average lines and resistance at $6.00.

Toncoin price long term prediction: ranging

The moving average lines and resistance at $6.00 have stalled the uptrend. Since December 20, the bulls have defended the current support level of $5.00. Today, the altcoin is trending upwards near the moving average lines. TON will resume its positive trend if buyers keep prices above the moving averages.TON will rise to its previous high of $7.00. If TON turns down from the 21-day SMA and falls below the $5.00 support, the market will retrace to the previous lows of $4.78 and $4.50. At the time of writing, the altcoin is currently worth $5.34.

Toncoin indicator analysis

Since December 20, the price bars have remained below the moving average lines, indicating a possible decline in the cryptocurrency. The moving average lines are trending downwards, indicating a bearish crossover. On the 4-hour chart, the price bars are between the moving average lines, indicating a probable range-bound movement of the cryptocurrency.

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?

On the 4-hour chart, the altcoin is moving sideways above $5.10 but below the $5.40 resistance. However, after the recent break above the 21-day SMA, the price of the cryptocurrency is trading between the moving average lines again. TON is above the 21-day SMA support but below the 50-day SMA resistance. The altcoin will perform if its price breaks above the 50-day moving average.

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.