Coinidol.com: Toncoin recovers but remains stuck at $1.70

Toncoin (TON) has risen above its 21-day SMA again, suggesting the crypto asset could be poised for further gains.

Long-term forecast for TON price: Bullish

Since November 21, as Coinidol.com previously reported, the altcoin has halted its decline above the $1.40 support level before returning to its previous high. The price has surpassed the 21-day SMA and is likely to approach the 50-day SMA, or the high of $1.86. If TON breaks above the 50-day SMA, it will confirm the continuation of the bullish trend, with potential targets at $2.50 and $3.00.

However, if the altcoin loses support at the 21-day SMA, TON will likely return to its key support at $1.40. Today, TON is valued at $1.65.

Toncoin Price Indicator Analysis

TON price has risen and remains above the 21-day SMA support but below the 50-day SMA resistance. Doji candlesticks indicate gradual price movement. On the 4-hour chart, the price bars are above the horizontal moving average lines. Upside momentum is limited near the $1.70 peak.

What’s next for Toncoin?

TON recovers, but remains stuck at $1.70. The cryptocurrency is trading above the USD 1.45 support but below the USD 1.70 resistance. Currently, the altcoin has risen above the moving average lines. If TON falls below these lines, it will likely retest its previous low.

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 taken as an endorsement by Coinidol.com. Readers should do their research before investing in funds.