Coinidol.com: TON remains firmly above the $1.45 support

The price of Toncoin (TON) has resumed its sideways movement at the bottom of the chart.

Long-term Toncoin price forecast: bearish

Since November 21, the cryptocurrency has moved sideways, remaining above the $1.40 support and below the moving average. The formation of Doji candlesticks has caused the altcoin to trade within certain limits. Doji candlesticks indicate traders’ uncertainty about the direction of the market.

On the other hand, if the bears push the price below the $1.40 support, TON will continue to decline and may return to the October 10 $0.70 price level.

However, the altcoin is correcting upwards towards the 21-day SMA. A break above the 21-day SMA will allow the altcoin to continue its bullish move and rise towards the 50-day SMA or the $2.00 level. Meanwhile, the altcoin is trading sideways above the USD 1.40 support. TON is currently at $1.62.

Technical indicators

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  Key resistance zones: $4.00, $4.50 and $5.00

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  Major support zones: USD 3.50, USD 3.00 and USD 2.50

Toncoin Price Indicator Analysis

The moving average lines slope downwards, with the price bars underneath. The price bars are below the 21-day SMA. Selling pressure will resume when the cryptocurrency price is rejected during the 21-day SMA.

However, a bullish trend will begin once the price crosses above the 21-day SMA. On the 4-hour chart, the price bars are above the moving averages.

What’s the next step for TON?

TON price remained sideways above the $1.45 support. The price has risen above the moving average lines; However, upside momentum is limited by resistance at $1.65. The Doji candlesticks have appeared as the cryptocurrency maintains its range-bound move above the moving average lines. When range-bound levels are exceeded, the altcoin will trend.

Disclaimer. This analysis and prediction 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 considered an endorsement by Coinidol.com. Readers should do their research before investing in funds.