Toncoin Price Forecast: TONUSD Fails to Breach the $2.6220 Resistance Again

Toncoin Price Forecast: November 15

The Toncoin price forecast is that the market may enter into consolidation if it fails the third time to breach the $2.6220 resistance level.

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

Key Levels:
Zones of supply: $2.6220, $3.2710
Zones of Demand: $1.8100, $1.980

TONUSD buyers may be running out of steam as they fail to violate the $2.6220 significant level for the second successive time. The bulls had broken to the upside of the triangle structure with much gusto earlier than expected, but the price was blocked at $2.6220. A pullback to $1.9800 ensued, but the resulting rally was again blocked at that same resistance level. This will probably allow the revival of the bears who will be looking to plunge the market. Nevertheless, the market could recover to breach the $2.6220 resistance.

Toncoin Price Forecast: TON Outlook

TONUSD is encountering resistance at the $2.6220 level for the second consecutive time, suggesting a potential loss of momentum among buyers.

Despite an initial bullish breakout from the triangle structure, the price surge was thwarted at $2.6220, leading to a subsequent retracement to $1.9800.

The subsequent rally faced renewed resistance at the same pivotal level, hinting at a possible resurgence of bearish sentiment.

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

It is noteworthy that the daily chart reveals a slight downturn in bullish enthusiasm, as the price has dipped slightly below the middle line of the Bollinger Band. Additionally, the Relative Strength Index (RSI) has retreated from the overbought zone to the middle line, indicating a potential further decline.

Examining the 4-hour chart, the candlesticks have descended to the extent that they are now extending beyond the lower Bollinger Band. Simultaneously, the RSI has reached the oversold boundary as the market nears the $1.9800 level. A test of this demand level may trigger a subsequent rally towards the resistance at $2.6220, though the overall trend suggests the possibility of continued bearish pressure.

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