Toncoin Returns To Its High Of $8.00 And Continues Its Uptrend

Toncoin (TON) price has regained its positive momentum by breaking above the moving average lines.  Price analysis by Coinidol.com.

Long-term forecast for the Toncoin price: bullish

Toncoin is rising and returning to its previous high of $8.80. In previous price action, buyers were unable to sustain the positive trend above the $8.00 resistance level. The cryptocurrency was rejected twice near the $8.00 resistance level. Today, the altcoin rebounded above the moving average lines and reached a high of $7.20.

On the upside, TON will rally to a high of $7.46 before being rejected at its current high. It is trading above the moving average lines but below the $8.00 resistance level from which it is rejected.

Analysis of Toncoin indicators

TON has resumed its uptrend as the price bars have returned above the moving average lines. The moving average lines are trending upwards, indicating a bullish crossover. Doji candlesticks are disappearing as the altcoin resumes its uptrend in the uptrend zone. Indecisive candlesticks with small bodies occur when traders are uncertain about the direction of the market.

Technical Indicators

Resistance Levels: $6.00, $8.00, $10.00

Support Levels: $5.00, $3.00, $1.00

What is the next move for TON?

TON has entered an uptrend after rising above the moving average lines on the 4-hour chart. The price is forming a sequence of rising highs and lows as it approaches its high of $7.20. The altcoin is pulling back due to a barrier near the recent high. The current barrier of $7.20 has not been breached since August 24. A break above $7.20 will propel the altcoin to a high of $8.80.

Disclaimer. This analysis and forecast are the personal opinions of the author, 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.