Toncoin Price Forecast: TONCOIN Nears $1.9800 After Triangle Upper Border Breakthrough

Toncoin Price Forecast: October 4

The Toncoin price forecast is for the market to use the confluence at $1.9800 as a springboard to push toward $2.6220.

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 TON/USD market is generally in an uptrend despite the current retracement. The bulls have broken rank thus far and broken to the upside of the triangle structure. However, the coin was not able to surmount the $2.6220 resistance. This has resulted in a retracement back into the triangle. There is, however, another rallying opportunity at the $1.9800 key level. It remains to be seen if the coin will rebound off it or drop back below it.

Toncoin Price Forecast: TON Outlook

TONCOIN has navigated around the upper border of its triangle pattern, edging to the $1.9800 mark. Despite a recent retracement, the overall trend in the TONCOIN market remains upward.

Bulls have exhibited resilience by breaking free from the confines of the triangle structure. However, the coin faced an obstacle at the $2.6220 resistance level, prompting a retracement within the triangle’s boundaries.

Yet, there’s another potential rallying opportunity at the pivotal $1.9800 level, the outcome of which remains uncertain. The 40-period Moving Average (MA) has established a consolidation phase in conjunction with the $1.9800 key level for a support platform.

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

On the daily timeframe, the Relative Strength Index (RSI) line exhibits oscillations predominantly within the bullish half of its chart, indicating an advantageous position for the bulls.

However, the 4-hour chart presents a slightly different scenario, with the price trading below the 40-period MA as it reaches the significant $1.9800 level. The RSI line in this timeframe has dipped into the bearish half. Ultimately, the dynamics at the $1.9800 level will play a decisive role in determining the price’s future direction.

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