Toncoin Price Forecast: TON Buyers Aim to Push for Lower High

Toncoin Price Forecast: August 23

The Toncoin price forecast is for the market to align with the initial trajectory and push up towards the $2.0040 lower high level.

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

The trajectory of the TONUSD market from its inception in late April is a tapering movement through a symmetrical triangle system. Therefore, the market was making lower highs and higher lows in price movements. There was a bit of disruption to this momentum from June into August as the price barely touched the $0.9940 support. This caused a delay, but the bulls overcame, and the coin is anticipated to rise to $2.0040.

Toncoin Price Forecast: TON Outlook

The TONUSD market has exhibited a gradual trajectory since its inception in late April, characterized by a symmetrical triangle pattern that has led to a series of lower highs and higher lows in price movement.

However, between June and August, a disruption occurred as the price touched the $0.9940 support level, causing a temporary delay.

Nonetheless, the bulls are steadfast in their pursuit, and the coin is poised for a potential resurgence towards $2.0040. The price trajectory experienced a rebound after reaching the upper Envelope line, followed by a subsequent drop and another rebound off the midline.

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

Much like the early April descent triggered by a lower high, the MACD (Moving Average Convergence Divergence) underwent a dip below the zero level and is now returning toward positive territory.

This pattern is mirrored on the lower timeframe, reflecting a market that has found stability above the middle line Envelope, poised for an upward push. The MACD lines have surged into positive territory, accompanied by bullish histogram bars. As such, there is a prevailing expectation for the price to ascend towards the $2.0040 level.

 

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