Toncoin Price Forecast: TON Exerts Downward Pressure

Toncoin Price Forecast: July 12

The Toncoin price forecast is that the market’s orientation is tilting toward being bearish as more downward pressure is being exerted.

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 Toncoin market is one in which the market is tapering through a triangle structure. At the current juncture, it is expected that the price is supposed to touch down at the support levels, and it does that with a long spike, returning swiftly back above the $1.3680 key level. The sellers aren’t satisfied and are pushing the price for a proper touchdown to $0.9940.

Toncoin Price Forecast: TON Outlook

The tapering movement of the coin is evident in the fact that the price is recording consistent lower highs and higher lows.

At the $1.3680 significant level, the price is expected to touchdown at $0.9940 to record a higher low. The market has done that, but rather too briskly, with a spike.

The bears have thus been putting pressure on the $1.3680 key level to ensure the price properly drops to $0.9940. The MA period 25 (Moving Average) above the candles is further resistance against the price rise.

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

The MACD (Moving Average Convergence Divergence) lines had already dropped below the zero level with the drop in price from the lower to the higher. The downward spike has further plunged the market. Nevertheless, the lines are rising on the daily chart.

On the 4-hour chart, the MA period 25 lines are now undulating around the candlesticks, but the MACD lines have stopped short of rising above the zero level, even taking a slight downturn. The potential is with the sellers, as pressure is placed on the price to touchdown at $0.9940.

 

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