Toncoin Price Forecast: TONUSD Gathers Momentum Below Recent All-Time High

Toncoin Price Forecast: April 3

The Toncoin price forecast is for the market to use the period of consolidation to gather bullish momentum to break the new $5.68 all-time high.

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

Key Levels:
Zones of supply: $5.68, $6.00
Zones of Demand: $4.85, $4.52

Toncoin is currently accumulating below the new all-time high at $5.68. The market has demonstrated unprecedented bullish momentum for an upsurge since the price broke out from the $2.48 resistance level. There were a few hitches along the way as the price rose. The first was immediately after the breakout, there was more than a week of consolidation. This also happened at $4.05 before the coin eventually reached the $5.68 new height. The market is now consolidating below this level.

Toncoin Price Forecast: TON Outlook

Toncoin is currently in an accumulation phase below its recent all-time high of $5.68. The market has showcased remarkable bullish momentum since breaking through the $2.48 resistance level.

The market encountered a few setbacks during its ascent, including periods of consolidation at $4.05 and post-breakout.

Nevertheless, the coin eventually reached its pinnacle at $5.68. Presently, the market is consolidating below this peak.

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

The Moving Average period 20 (MA) has consistently supported the daily candlesticks since the breakout beyond the $2.48 mark. Therefore, it is anticipated that the current consolidation phase will similarly find support from the MA once it intersects with it. Furthermore, the MACD (Moving Average Convergence Divergence) lines, which are significantly elevated above the equilibrium level, strongly indicate the prevailing bullish sentiment in the market.

On the 4-hour timeframe, the MA has aligned with the market’s consolidation point and is moving laterally through it. A recent downward cross was observed at the MACD lines on the daily chart, resulting in a marginal drop below the zero level on the 4-hour timeframe. However, historical data indicates that significant rallies followed previous consolidation phases. As a result, traders remain optimistic about the potential for a forthcoming price surge.

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