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Toncoin Price Forecast – October 23rd
The Toncoin price forecast reveals that consolidation continues beneath the significant $5.410 level, with minimal movement in the market since the start of the month.
TONUSD Long-Term Trend: Bearish (Daily Chart)
Key Levels
Resistance Levels: $5.410, $6.140
Support Levels: $5.000, $4.750
Buyers have struggled to regain control, unable to push the price above this critical level. Similarly, sellers have shown limited strength, leaving the market in a stagnant phase. Last month, Toncoin buyers made an attempt to break through the $6.140 resistance but were unsuccessful, allowing sellers to push the price down to the $5.000 support zone. Since then, the market has been consolidating, with little movement between the $5.000 support and $5.410 resistance levels.
Toncoin Price Forecast: TONUSD Outlook
The Bollinger Bands are narrowing, indicating reduced volatility and suggesting a possible breakout in the near future. The buyers’ momentum remains weak, while sellers have also shown little determination to push the price lower.
With the Bollinger Bands showing a tight range and the Momentum indicator hovering around neutral, the market lacks clear direction. Both buyers and sellers appear uncertain, setting the stage for a potential breakout depending on which side gains more control.
If TONUSD buyers succeed in breaking above the $5.410 resistance, they could aim for the $6.140 level again. On the other hand, a drop below $5.000 would signal stronger bearish pressure, with the next key support around $4.750.
TONUSD Medium-Term Trend: Bearish (4-Hour Chart)
In the short term, the market remains quiet with low trading volume. The Bollinger Bands continue to converge, and the Momentum indicator remains near the mid-level, indicating no immediate signs of a significant price shift. Traders on both sides remain cautious, and the market is stuck in indecision.
As the Bollinger Bands narrow further, a breakout may be imminent. A decisive move either above $5.410 or below $5.000 will likely determine the next trend for the TONUSD coin. Until then, the market is expected to stay in this consolidation phase, with traders looking to crypto signals for potential breakout opportunities.
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