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Toncoin Recovers And Breaks Through The Barrier At $3.10
By: bitcoin ethereum news|2025/05/08 22:30:02
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Toncoin (TON) has embarked on a new recovery path after falling back to its low price of $2.95. Toncoin price long-term prediction: bearish The altcoin moved between the support at $2.80 and below the resistance at $3.40. The resistance at $3.40 and the moving average lines have hindered the uptrendsince April 6. TON will reach its high of $4.21 if buyers push the price above the moving average lines and the $3.40 level. Nonetheless, the cryptocurrency is still trading at its lowest price point, invalidating the bullish scenario. In the meantime, TON is trading in the positive trend zone at $3.09. Toncoin indicator analysis The risks of TON decrease when the price bars fall below the moving average lines. The 21-day SMA currently stands in the way of the cryptocurrency’s uptrend. If the bulls are unable to break above the 21-day SMA, selling pressure will begin. TON is between the moving average lines on the 4-hour chart. It will be forced to move within the range. Technical Indicators Resistance Levels: $6.00, $8.00, $10.00 Support Levels: $5.00, $3.00, $1.00 What’s next for Toncoin? TON is trading below the moving average lines and is in the downtrend zone. Once the altcoin breaks above the moving average lines, it will start to move higher. It is currently trapped below the 21-day SMA. TON will either fall below the recent high or above the next support at $2.80 where it fails to rise above the 21-day SMA. On April 29, 2025 Coinidol.com wrote that the bulls were unable to sustain the bullish momentum above the moving average lines despite breaking above them. The price of the cryptocurrency fell after reaching the $3.40 resistance level. Disclaimer. This analysis and forecast are the personal opinions of the author. They 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. Source: https://coinidol.com/toncoin-recovers-and-breaks/
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