Toncoin Rebounds but Remains Stuck at $1.70

Toncoin (TON) has moved back above the 21-day SMA, suggesting the crypto asset may be poised for further gains.

TON price long-term forecast: bullish

Since November 21, as Coinidol.com reported previously, the altcoin has halted its decline above the $1.40 support level before rebounding towards its previous high. The price has surpassed the 21-day SMA and is likely to approach the 50-day SMA, or the $1.86 high. If TON breaks above the 50-day SMA, this 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

The 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. Upward momentum is limited near the $1.70 peak.

What is the next move for Toncoin?

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

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.