Coinidol.com: TON Slumps Again at the $1.70 Barrier

Toncoin (TON) has remained above the $1.45 support as buyers attempt to keep it above the moving average lines.

TON price long-term forecast: ranging

Since November 21, the altcoin has traded above $1.45 but below the moving average lines and the $1.70 resistance.

On December 29, buyers held the price above the moving average line, but resistance at $1.70 halted further gains. Now, the cryptocurrency price has risen after slipping between the moving average lines. If buyers break through the 50-day SMA and the $1.70 resistance, the altcoin could rise to $2.10.

Technical Indicators

• Key Resistance Zones: $4.00, $4.50, and $5.00

• Key Support Zones: $3.50, $3.00, and $2.50

Toncoin price indicator analysis

The price bars are positioned between the horizontal moving average lines, indicating a sideways trend. TON will grow if it breaks above the 50-day SMA and bullish momentum continues.

Conversely, if the price falls below the 21-day SMA support, TON will return to its previous trading range. On the 4-hour chart, the price bars are above the upward-sloping moving average lines.

What is the next move for Toncoin?

TON is still trading sideways but is correcting upwards. The upward correction encountered resistance at $1.70 as it slipped between the moving average lines. Buyers are attempting to push the price above the moving average lines. If the price remains above the 21-day SMA support, an upward trend will begin.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.