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Toncoin Price Forecast: November 29
The Toncoin price forecast is for the market to attempt to sustain its upward movement along a trendline.
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 Toncoin market was initially tapering through a triangle structure before the bulls decided to cause a breakout to the upside. It can be noticed that the price rose along a trendline in breaking out. At each stage, the price has remained obedient to the trendline; not even the rejection at the $2.6220 supply level caused the market to derail off the trendline. As the trendline leads the price back to $2.6220, we expect the bulls to fight to push through the resistance level to maintain its trajectory along the line.
Toncoin Price Forecast: TON Outlook
Toncoin is following an upward trajectory along a prominent trendline. Initially navigating through a triangular structure, the market witnessed a bullish breakout, and notably, the price has adhered consistently to the ascending trendline.
Even the rejection at the $2.6220 supply level failed to derail the market from its established path.
As the trendline guides the price back toward $2.6220, anticipation surrounds the forthcoming contact of the bulls with the resistance level. Buyers will be aiming to sustain the trajectory along the trendline.
Toncoin Medium-Term Trend: Bullish (4-hour chart)
Analyzing the daily chart, the Relative Strength Index (RSI) indicator signals enduring bullish sentiment, maintaining its line above the 50 mark and occasionally entering overbought territory. Meanwhile, the Average True Range (ATR) indicator suggests heightened market volatility, characterized by occasional surges.
On the 4-hour timeframe, the recent market movement is characterized by a gradual ascent from the confluence of $2.2300 and the trendline. The volatility at this juncture exhibits a decline, as indicated by the 4-hour ATR indicator. The RSI line, reacting around the 50 mark, demonstrates a propensity to rise further. The overall expectation is for the coin to progress toward the $2.6220 resistance level with an intent to breach it.
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