Toncoin Price Forecast: TON Prepares for Impending Breakout in the Market

Toncoin Price Forecast: July 19

The Toncoin price forecast is for the market to shake off the bearish pressure for a rally to make a new lower high at $2.0040.

Toncoin Long-Term Trend: Bullish (1-Day Chart)

Key Levels:
Zones of supply: $1.8100, $2.0040, $2.6220
Zones of Demand: $0.7420, $0.9940, $1.3680

Still, in a tapering motion, Toncoin aims to break free from the dump and initiate a rally. At the price of $1.3680, the coin experienced a downward spike, touching the triangle support. Sellers are determined to retest the support at $0.9940. Following over a month of consolidation back at $1.3680, the market indicates a potential relief from bearish pressure, signalling a rise in value.

Toncoin Price Forecast: TON Outlook

The Toncoin market is currently forming a triangular pattern as it seeks to gain momentum. Toncoin is poised to break free from the current downward pressure and rally.

It earlier experienced a downward spike to touch the triangle support from the current price level of $1.3680, but sellers aim to retest that triangle support at $0.9940.

After a consolidation period back at $1.3680 lasting over a month, the market displays signs of shedding bearish pressure and preparing to ascend.

Toncoin Medium-Term Trend: Bullish (4-hour chart)

For the price to continue its uptrend, Toncoin must surpass the 30-day Moving Average (MA) on the daily chart. The Relative Strength Index (RSI) on the daily chart supports the uptrend, showing some fluctuation but maintaining an overall upward trajectory towards the middle line.

Furthermore, there are positive indicators in the 4-hour timeframe. Toncoin is already trading above the 30-day MA, and the RSI on the same timeframe has risen above the middle line, approaching the overbought zone. The coin is predicted to push towards a lower high at $2.0040.

 

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