Toncoin Price Forecast: Toncoin Sets New High Despite Stuttering Momentum

Toncoin Price Forecast: April 17

The Toncoin price forecast is for the market to use the period of consolidation to gather bullish momentum to break the new $5.68 all-time high.

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

Key Levels:
Zones of supply: $6.50, $7.10, $7.67
Zones of Demand: $6.00, $5.27, $4.85

The Toncoin market has set a bar for its highest price level at $7.67. This is despite the stuttering bullish momentum. The coin is striving to continue the impressive bullish streak that began at the end of February. That streak sees the market rise by more than 200% to its current level. At this point, the buyers are weakened and seem unable to carry the market with the same intensity. Hence, the price can be seen firstly retracting to $5.27, then tapering in a triangle structure. This would help the bulls regain momentum for another surge.

Toncoin Price Forecast: TON Outlook

Toncoin has reached its pinnacle, establishing its highest price level at $7.67, even as its bullish momentum shows signs of faltering.

The coin has been striving to sustain the remarkable bullish trend initiated at the end of February, during which the market surged by over 200%. However, at present, buyers appear to be waning in strength, struggling to maintain the market’s upward trajectory with the same vigor.

Consequently, the price has retracted to $5.27 and is now consolidating within a triangular structure, potentially allowing the bulls to recover momentum for a renewed surge.

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

Crypto signals from the daily chart reveal that while the market’s momentum surged to facilitate the new high, it subsequently began to waver, leading to a slight downturn. The MA Cross (Moving Average) continues to underscore the daily candles, but a closer examination reveals the trading level oscillating between the MA Cross, exerting pressure on the lower MA.

On the 4-hour timeframe, the MA Cross has executed a bearish crossover as the price consolidates within the triangular structure. The Momentum line in this timeframe is exhibiting erratic fluctuations, reflecting the bulls’ struggle to regain momentum. Currently, Toncoin finds itself at a pivotal juncture, poised for potential price swings in either direction. Traders are encouraged to vigilantly observe the market for further crypto signals to ascertain the market’s direction before entering positions.

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