TON Continues To Fight Against The $6.00 Top

The price of Toncoin (TON) is recovering after falling as low as $4.60. TON price analysis by Coinidol.com.

Toncoin price long-term forecast: ranging

In the last price movement, TON fell back from its high of $8. Since September 10, as reported previously by Coinidol.com, the cryptocurrency has been stuck between the moving average lines. Neither the bulls nor the bears had the upper hand as TON remained trapped between the moving average lines. On September 13, the bulls tested the 50-day SMA four times but failed to rise above the resistance level. 

Once TON crosses above the 50-day moving average line, the uptrend will continue. TON will return to the high price of $8.00. However, TON will fall and return to its trading range if it is rejected at higher prices.

TON indicator analysis

The TON indicator has been stuck between the moving average lines for the last two weeks. Bulls and bears have not managed to break out of their current price range. Doji candlesticks have slowed down the price fluctuations of the cryptocurrency. The moving average lines are horizontal, indicating a sideways movement of the coin.

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 is still moving sideways. On the 4-hour chart, the altcoin is moving in a range between the $5.40 support and the $6.00 resistance. The price of the cryptocurrency is fluctuating both below and above the moving average lines. Today, the altcoin is rising above the moving average lines. The current resistance of $6.00 is expected to stop the uptrend.

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.