TON Revisits Its $1.50 High

Toncoin (TON) has twice recovered above the moving average lines.

TON price long-term forecast: bullish

During the rally on April 11, buyers pushed the price to a high of $1.51 but were rejected. TON then fell to a low of $1.25, although bulls bought the dip.

Today, Toncoin has risen above the moving average lines as buyers attempt to break through the $1.50 resistance. If buyers overcome the $1.50 barrier, TON could rise to $1.80 and $2.00. If TON fails to break its current high, it will continue to trade sideways above the moving average lines. At the time of writing, TON is at $1.38.

Technical Indicators

• 
  Key Resistance Zones: $4.00, $4.50, and $5.00

• 
  Key Support Zones: $3.50, $3.00, and $2.50

Toncoin indicator analysis

The horizontal moving average lines are now trending upwards. The 21-day SMA is above the 50-day SMA, indicating a bullish trend. The long candlestick wicks on April 11 indicate significant selling pressure at the recent high. The 4-hour chart shows the price has slipped between the downward-sloping moving average lines, suggesting TON will continue to move within a defined range.

What is the next move for Toncoin?

TON is recovering after dropping to a low of $1.25. On the 4-hour chart, the price is rising as it approaches the $1.50 level. Currently, the trend is trapped between the moving averages. TON will return to its previous high of $1.51 if it breaks above the 50-day SMA. At present, the altcoin is caught between the moving average lines, unable to surpass the 50-day SMA barrier.

Disclaimer. This analysis and forecast 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 viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.