Toncoin Price Forecast: TONUSD Bears Gain Upper Hand in Ding-Dong Battle

Toncoin Price Forecast: February 7

The Toncoin price forecast is for the sellers to keep grinding against the demand level in anticipation of driving the price lower.

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

Key Levels:
Zones of supply: $2.2300, $2.4800, $2.6000
Zones of Demand: $1.9800, $1.8100, $1.3700

Toncoin is still at the center of a ding-dong battle between the buyers and the sellers. The market has been ranging between key levels as it seeks direction. As things stand, the sellers may be gaining an upper hand in leading the coin to a lower price. This is seen as the candles have failed to rise after the latest test at the support level. Instead, they seem to be pushing against the support.

Toncoin Price Forecast: TON Outlook

TONUSD finds itself embroiled in an ongoing tug-of-war between buyers and sellers, with the latter potentially gaining the upper hand in steering the coin towards a lower price.

The market remains trapped at crucial levels as it seeks a definitive direction.

The recent test at the support level has not yielded a bullish response, indicating sellers are pushing against the support.

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

The Bollinger Bands reflect the market’s tension, visibly squeezing around the price action. Notably, the candlesticks have exerted downward pressure on the lower Bollinger Band, causing it to drop below the support level. Concurrently, the RSI (Relative Strength Index) indicator, previously fluctuating around the 50 mark, has now consistently stayed below it.

Examining the 4-hour timeframe, the candlesticks are currently grinding against the support level, signaling increasing pressure from sellers. The RSI in this timeframe continues its fluctuations but is notably skewed below the 50 mark. Crypto signals collectively suggest that sellers are gaining the upper hand, potentially leading to a price plunge towards $1.81.

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