Toncoin Price Forecast – TONUSD Faces Pullback Amidst Strong Seller Sentiment

Toncoin Price Forecast – March 12th

Toncoin price forecast shows the market is currently experiencing a price pullback as the market faces increasing selling pressure.

TONUSD Key Levels

Support Level: $2.3600 , $2.5000
Resistance Level: $7.2000 , $6.4000

Toncoin Long-Term Trend: Bearish

Toncoin prices are falling back to the key area of $2.3600. Recent market dynamics have seen sellers gain strength due to significant pullouts. This is seen particularly following a peak last year at the $7.2000 level, which has allowed sellers to push prices lower.

Toncoin Price Forecast – TONUSD Outlook

As Toncoin navigates through a bearish cycle this year, the market has consistently formed lower highs and lows. However, buyers are eyeing the opportunity to buy the dip at the $2.3600 level. It may serve as a critical support point for a potential rebound.

The Bollinger Bands indicate a strong liquidity ratio in the market. This means that while selling pressure is prominent, there is still potential for buyers to resurge if buying activity increases.

Conversely, the Momentum indicator has demonstrated a downward trend. It currently reflects the ongoing struggles of buyers as they fight for recovery. Despite the challenges, the short time frame shows signs of buyers beginning to pick up from the significant $2.3600 zone.

TONUSD Medium Term Trend: Bearish (4-hour chart)

In the immediate future, there could be a shift in market sentiment as buyers look to capitalise on the dip at the $2.3600 level. If buying pressure increases, it may present an opportunity for the bulls to regain control and initiate an upward movement.

Traders should remain attentive to price action around the $2.3600 support level. A confirmed bounceback could signal a change in momentum and a potential recovery for Toncoin.

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