Toncoin Price Forecast: Toncoin Aims for a Breakthrough at $2.6220

Toncoin Price Forecast: November 1

The Toncoin price forecast is for the market to still jump through the $2.6220 significant level due to the strength of the bulls.

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

Key Levels:
Zones of supply: $3.2710, $2.6220
Zones of Demand: $1.9800, $1.3680

The TONUSD bulls were too quick to react to take advantage of the momentum building in the market. The price had been tapering through a triangle, and the market direction could have gone either way, but the buyers aggressively took control of the market direction. The upper boundary of the triangle has been broken to reach $2.6220. However, now there is a retracement back to the triangle border, which is expected to push the coin high above the initial $2.6220.

Toncoin Price Forecast: TON Outlook

The TONUSD market has witnessed a swift response from bullish investors, capitalizing on the growing momentum within the cryptocurrency sphere.

Despite the prior price consolidation within a triangular pattern, market direction seemed uncertain. However, buyers decisively seized control, breaking the upper boundary of the triangle and propelling the price to $2.6220.

Currently, a retracement is in progress as the coin regresses to the triangle’s border, with expectations of an eventual surge well beyond the initial $2.6220 level. Analyzing the daily chart, the initial breakout from the triangle coincided with a breach of the Envelope lines.

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

The subsequent retracement has reverted the market within the Envelope boundaries, setting the stage for a potential breakout as the price aspires to surpass $2.6220. The RSI (Relative Strength Index) indicator predominantly favors a bullish trajectory.

On the 4-hour chart, candlestick movements align closely with the Envelope’s middle line, having recently rebounded towards the upper Envelope line. This latest market activity also nudged the RSI into overbought territory, albeit followed by a minor retracement below the threshold. These indicators suggest a continued effort by TON to achieve the envisioned breakthrough beyond $2.6220, highlighting the coin’s ambition and investor enthusiasm in the current market climate.

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