Toncoin Price Forecast: TON Bulls Complete Market Resurgence

Toncoin Price Forecast: August 16

Toncoin price forecast is for the market to continue its rally towards the $2.0040 resistance level following its bullish resurgence.

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

Following a complete U-turn, TON/USD bulls have orchestrated a market resurgence, rallying above the significant $1.3680 level. The initial drop was triggered by sellers aiming to test support at $0.9940, but the bulls reversed the trend, asserting their dominance. This has bolstered the likelihood of a continued rise toward $2.0040.

Toncoin Price Forecast: TON Outlook

TONCOIN bulls have successfully orchestrated a market resurgence, propelling the coin to make a complete U-turn and rally above the significant $1.3680 level.

The initial drop in price was prompted by sellers’ activity aiming for a retest of the market support at $0.9940. However, the bulls orchestrated a powerful reversal to assert their dominance.

With this resurgence, the likelihood of the market’s continued ascent toward $2.0040 is considerably high. A significant shift in market direction is evidenced as the daily Parabolic SAR (Stop and Reverse) dots swiftly switch below the candlesticks.

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

Despite the price increase, the Average True Range (ATR) indicator on the daily chart shows only a marginal rise in market volatility. Sustained efforts from the bulls are essential to maintain consistency and prevent sellers from regaining control of the price.

While the 4-hour timeframe ATR displays greater volatility, the challenge for the bulls lies in translating this momentum to a broader daily perspective. The alignment of Parabolic SAR dots below the 4-hour candles underscores the bullish sentiment in this shorter timeframe.

 

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