Coinidol.com: TON Slumps to Its $1.42 Low

Toncoin (TON) has fallen below the moving average lines after being rejected at the $1.93 barrier.

TON price long-term forecast: bearish

Buyers could not maintain positive momentum above $2.00. The altcoin dropped below the moving average lines after being rebuffed twice at the $1.93 and $1.81 highs. TON has declined to just above the $1.50 support level as volatility resumes.

However, if the bears break below the $1.50 support, TON will retest its previous low of $1.42. If the price falls below the current support, TON will be forced to trade in a range above the $1.40 support and below $2.00. TON is now worth $1.56.

Technical Indicators

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

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

Toncoin price indicators analysis

TON price bars have again fallen below the upward-sloping moving average lines. The 21-day SMA is above the 50-day SMA, indicating an upward trend. On the 4-hour chart, the price bars are below the downward-sloping moving average lines, indicating a current decline. Doji candlesticks characterise price action, causing the altcoin to trade within a range.

What is the next move for Toncoin?

TON's price is declining below the moving average lines, reaching a low of $1.53. The cryptocurrency price is approaching its recent low of $1.50. The bearish momentum will reverse if it retraces and holds above the $1.50 support level. However, TON will continue to fall if it loses its current support at $1.50.

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.