Toncoin Falls And Returns To Its Previous Low Of $6.38

The Toncoin (TON) price has fallen below the moving average lines. In the previous market activity, the altcoin was in a sideways trend below the overhead barrier at $8.00.

Long-term forecast for the Toncoin price: bearish

The cryptocurrency remained in a range that was above the moving average lines but below the $8.00 resistance level. 

Today, TON has resumed selling pressure and has fallen below the moving average lines to a low of $6.67. The altcoin has fallen to a low of $6.67 and is expected to fall even lower to $4.57.

However, the altcoin has fallen and is approaching the previous low of $6.38. The altcoin's uptrend will continue if the previous low is maintained. If the altcoin loses its support at $6.38, its value will fall to $4.57.

Analysis of the Toncoin indicator

After the current decline, the price bars on both charts have fallen below the moving average lines. Moreover, the moving average lines are showing a bearish crossover. The 21-day SMA has crossed below the 50-day SMA, indicating a bearish trend.

Technical Indicators 

Resistance Levels: $6.00, $8.00, $10.00

Support Levels: $5.00, $3.00, $1.00

What's next for Toncoin?

TON has fallen below the moving average lines as the cryptocurrency returns to its previous low of $6.38, which occurred on July 5. The sideways trend will continue if the altcoin returns to the previous low and holds it. The current price range of the altcoin is between $6.38 and $8.00. The cryptocurrency will perform if the support and resistance levels are broken.

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.