Toncoin Price Forecast: Toncoin Demonstrates Resilience Amid Bearish Pressure

Toncoin Price Forecast: May 29

The Toncoin price forecast is for the market to remain resilient in the face of bearish pressure to reach the $7.67 resistance level.

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

Key Levels:
Zones of supply: $6.50, $7.10, $7.67
Zones of Demand: $4.85, $5.68, $6.00

The Toncoin market is resisting the advances of the bears to drop lower. The price seems determined to overcome the accumulated pressure on the coin as it approaches the $7.67 all-time high. As a result, the market has bounced off the $6.00 significant level and is trying to rise above the $6.50. If this happens, the buyers will be bolder to push even higher, back to the $7.67 resistance level.

Toncoin Price Forecast: TON Outlook

Toncoin exhibits resilience amid bearish pressure, steadfastly resisting a price drop.

Despite the looming bearish sentiment, the coin remains determined to overcome downward pressure as it nears the critical $7.67 all-time high level.

Currently, the market has rebounded from the $6.00 significant level and is striving to surpass the $6.50 mark. A successful breach of this level would embolden buyers to push even higher, aiming to reclaim the $7.67 resistance level.

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

Crypto signals on the daily chart reveal that after retracing from the pivotal $7.10 level, the price dipped below several key levels, including the middle line of the Bollinger Band. However, as Toncoin attempts to reclaim the $6.50 level, it is also endeavoring to rise above the middle Bollinger Band. The RSI (Relative Strength Index) line has rebounded from the 50 mark, signaling a potential upward movement.

Examining the 4-hour timeframe, candles have bounced off the $6.00 support level and the lower Bollinger Band, with the price now striving to ascend beyond the $6.50 key level. This effort has led to the stretching of the upper Bollinger Band. Additionally, the RSI line on this chart has displayed a clear directional shift, indicating a reversal as it rises above the 50 mark. Toncoin’s resilience suggests a potential bullish reversal shortly.

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