Toncoin Price Forecast: TONUSD Faces Uphill Battle in Price Rise

Toncoin Price Forecast: February 21

The Toncoin price forecast is that the market will drop toward the resistance level under bearish pressures.

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

Key Levels:
Zones of supply: $2.23, $2.48
Zones of Demand: $1.98, $1.81

Toncoin is currently having a hard time rising to the level of the resistance zone. The market has been locked in consolidation between key levels since early December. The $2.48 price level acts as the resistance, while the market uses $1.98 as the demand zone for the consolidation zone. The bears look likely to drive the price after initially pinning the coin to the demand level of the consolidation.

Toncoin Price Forecast: TON Outlook

Toncoin is currently grappling with challenges as it strives to ascend to the resistance zone.

Since early December, the market has been consolidated, oscillating between crucial levels. The $2.48 price level poses a steadfast resistance, while $1.98 is the consolidation zone’s demand area.

Initial signs indicate a bearish inclination, as bears exert pressure, pinning the coin to the demand level within the consolidation.

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

On the daily timeframe, the MA Cross (Moving Average) lines exhibited an upward crossover on February 13th, supporting the candles. However, the recent pullback exerts notable pressure on the MA Cross lines, weighing them down. Despite this, the Momentum indicator maintains an upward trajectory, redirected on January 25th.

Transitioning to the 4-hour timeframe, the market experienced a prolonged period before rising above $2.23. However, the coin’s struggle to establish a sustained position above this level is evident, as it encounters intermittent pullbacks. The MA Cross lines, having crossed each other, are now poised for a downward trajectory. The Momentum indicator reflects the impact of the pullback, displaying a downturn.

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