Toncoin Price Forecast: TONUSD Bulls are Worn Out

Toncoin Price Forecast: December 13

The Toncoin price forecast is for the bears to take over after the bulls become exhausted from driving the market higher.

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

Key Levels:
Zones of supply: $2.2300, $2.6220
Zones of Demand: $1.9800, $1.3680

Toncoin bulls are now worn out after the market recedes from the $2.772 significant level. The bulls have previously maintained a track along a rising trendline. This is even though bearish pressure was beating against the market as it rose. Eventually, the pressure began to show on the price, as the price always fell back to the trendline whenever it tried to spike higher. Therefore, at $2.4800, the coin has become weary of climbing and slumps back to the triangle border around $1.9800.

Toncoin Price Forecast: TON Outlook

Toncoin bulls are showing signs of exhaustion following a market retreat from the significant $2.772 level.

Despite maintaining an upward trajectory along a rising trendline, the bulls faced persistent bearish pressure. The strain became apparent as the price consistently reverted to the trendline upon attempting higher spikes.

The bearish pressure has eventually led to a reluctance to climb further. Currently, at $2.4800, the coin has retraced, slumping back to the triangle border around $1.9800.

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

The Parabolic SAR dots swiftly transitioned above the daily candlesticks as the price plunged to $1.9800. Before this descent, the market exhibited shaky momentum, as reflected in the daily chart’s Momentum indicator, serving as a precursor to the current downturn.

On the 4-hour timeframe, a series of Parabolic SAR dots above the candlesticks indicate a shift to a bearish trend. The Momentum indicator reveals considerable instability with wavering lines, suggesting an opportunity for bears to exploit and potentially drive the price below the triangle border.

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.