Toncoin Price Forecast: TONUSD Bulls Regain Momentum Amidst Volatility

Toncoin Price Forecast: March 20

The Toncoin price forecast is that the market will use the current consolidation coupled with high volatility to push its price towards a high level.

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

Key Levels:
Zones of supply: $5.00, $4.52, 4.05
Zones of Demand: $3.52 $3.27, $2.95

Toncoin was able to shake off the sellers and make a strong bullish rally last week, which amounted to more than a 65% price increase. After this, however, the buyers were exhausted, thereby allowing the sellers another opportunity to influence the market. Immediately, the price dropped towards the $3.27 support, but bulls have revived before more damage could be done and have pushed the coin higher into consolidation between $4.05 and $3.52.

Toncoin Price Forecast: TON Outlook

Toncoin has witnessed a resurgence in bullish activity following a strong rally last week, marking a significant price increase of over 65%.

However, the subsequent exhaustion among buyers provided sellers with an opportunity to influence the market, leading to a temporary dip towards the $3.27 support level.

Nevertheless, bulls swiftly reemerged, preventing further decline and pushing the coin into a consolidation phase between $4.05 and $3.52.

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

On the daily chart, crypto signals are evident as the RSI (Relative Strength Index) indicator, previously hovering around the oversold border, dips slightly below it in response to the price correction. Meanwhile, the ATR (Average True Range) indicator remains elevated, indicating heightened market volatility not observed in recent times. This increased volatility presents an opportunity for buyers to capitalize on market movements and regain control of the agenda.

Analyzing the 4-hour timeframe reveals a clear range-bound market between the significant levels of $4.05 and $3.52. Consequently, the RSI line has retreated to the middle line, indicating a neutral stance as it moves laterally. Despite volatility remaining steady according to the ATR indicator, neither rising nor falling, market forces are poised to exploit this situation. With buyers showing resilience, further upward movement for the coin is anticipated amidst the current market conditions.

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