Toncoin Price Collapses At The $3.40 Mark

The price of Toncoin (TON) has resumed its uptrend after rising above the moving average lines.

Toncoin price long-term prediction: bullish

The bulls were unable to sustain the bullish momentum above the moving average lines despite breaking above them. The price of the cryptocurrency fell after reaching the $3.40 resistance level.

Toncoin is now oscillating above and below the 50-day SMA. If buyers maintain the bullish momentum above the moving average lines, TON will rise to the next barrier at $4.20. The uptrend could be initiated by breaking above the $4.20 barrier.

However, the price of the cryptocurrency has fallen below the 50-day SMA. It is likely that the TON price will be caught by the moving average lines. The altcoin will return to the low of $2.80 or the support of the 21-day SMA if the decline continues. Currently, the value of TON stands at $3.29.

Toncoin indicator analysis

The price bar is stuck below the 50-day SMA barrier but is above the 21-day SMA. It is still difficult for both bulls and bears to predict the direction of the market based on prices alone. The price bars on the 4-hour chart show the current trend as they are above the moving average lines.

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 April 27, TON rose to a high of $3.39, continuing its upward trend. On the 4-hour chart, the altcoin is trading above the moving average lines and below the $3.40 mark.

TON will continue its uptrend once it breaks above the $3.40 level. Selling pressure will increase again if the 21-day SMA support is 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.