Toncoin Price Forecast: Toncoin Struggles as Bears Seize Control

Toncoin Price Forecast: April 24

The Toncoin price forecast is for the price to drop to even lower levels if the buyers fail to revive themselves to regain control.

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

Key Levels:
Zones of supply: $6.50, $7.10, $7.67
Zones of Demand: $4.85, $5.27, $5.68

Toncoin bulls have failed to maximize the triangle structure to jerk the market to higher price levels. Indeed the sellers have seized control to bring down the price to around $5.68. The market surge to $7.67 around the last two weeks helped to break the all-time high and set a new one at $7.67. However, upon attaining this record-breaking level, the buyers have lost momentum. This led to several days of tapering through a triangle structure but even with that, TON buyers have not recovered to push the price to higher levels.

Toncoin Price Forecast: TON Outlook

Toncoin bulls have struggled to capitalize on the triangle structure to propel the market to higher price levels.

Despite reaching a new all-time high of $7.67 two weeks ago, momentum has waned, leading to a decline in price to approximately $5.68.

The market’s failure to sustain its upward momentum first resulted in days of tapering within a triangle structure, with buyers unable to regain control and drive prices higher.

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

Crypto signals indicate that bears have assumed dominance in the market. This is evident from the daily candlesticks trading below the MA period 20 (Moving Average). However, the MACD (Moving Average Convergence Divergence) indicator, despite being high above the zero level, suggests that buyers still have the potential to regain control if they act swiftly.

On the shorter timeframe, sellers maintain a firm grip as the MA period 20 remains above the 4-hour candlesticks. The MACD lines recently dipped below the zero level, indicating a bearish sentiment. However, a slight rebound from the $5.68 support level has caused the MACD lines to cross upward, resulting in a reduction of bearish histogram bars. Whether the bulls can sustain this revival or falter once more remains uncertain.

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