CandleFocus

Toncoin Is In A Range And Targeting The High At $7.00

Author: Content Editor
The price of Toncoin (TON) has experienced a setback after reaching a high of $7.00, falling below the moving average lines. The cryptocurrency was rejected twice at its recent high and is currently trading above the 50-day simple moving average (SMA) but below the 21-day SMA, which acts as a resistance level. If TON breaks through the 21-day SMA, it could rise to $7.00 and potentially $8.00. However, if it fails to breach the 21-day SMA, the bullish scenario will be invalidated. TON's value currently stands at $6.41. The altcoin's trend will be determined once it breaks above the 21-day SMA or falls below the 50-day SMA. Resistance levels are set at $6.00, $8.00, and $10.00, while support levels are at $5.00, $3.00, and $1.00. The 4-hour chart shows TON correcting upwards, but it will continue to trade within a range until the next trend is established. This analysis and forecast are personal opinions and not a recommendation to buy or sell cryptocurrency.

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