Toncoin Price Forecast: TONUSD Faces Bearish Pressure as Buyers Struggle to Break Through the $6.000 Level

Toncoin Price Forecast – August 29th

The Toncoin price forecast reveals that buyers are encountering strong bearish pressure, struggling to maintain a bullish trend.

TONUSD Long-Term Trend: Bullish (1-Day Chart)
Key Levels

Support Levels: $5.090, $4.000
Resistance Levels: $6.040, $7.000
Toncoin market has been under significant bearish pressure in recent weeks. Currently, buyers are finding it difficult to sustain a strong bullish momentum and breach the crucial $6.000 level. While traders had anticipated breaking through this level within the month, the continued bearish pressure is making this increasingly unlikely.

Toncoin Price Forecast: TONUSD Outlook

Earlier this month, sellers faced resistance after pushing the price up to the $7.000 key level. However, the bulls struggled to maintain momentum, allowing sell traders to push the price lower. This resulted in a significant drop, with the TONUSD price experiencing a strong liquidity purge due to bearish supply.

As a result, the sellers drove the price down to the $5.090 significant area before buyers began to initiate a recovery. The current market environment indicates that sellers are holding back the bulls from making further gains, and the decline is reflected in the Momentum indicator.

The bearish sentiment is also intensifying on the Moving Average Convergence and Divergence (MACD) indicator. It remains uncertain whether buyers can regain control and push the TONUSD price back toward the significant resistance level at $6.000.

TONUSD Medium-Term Trend: Bearish

In the short term, crypto buyers are still battling for recovery, but sell traders continue to maintain control, causing the market to decline in value.
The Momentum indicator has yet to show a strong impulse for the bulls, and the MACD is still in negative territory. A successful reversal will become evident when these indicators begin to rise, signaling a potential shift in market sentiment. Those following crypto signals should closely monitor these indicators for signs of a bullish reversal.

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