Toncoin Price Forecast: TONUSD Hindered by Bearish Pressure

Toncoin Price Forecast: October 11

The Toncoin price forecast is for the market to regain its previous bullish momentum and push upward towards $3.2710.

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

Key Levels:
Zones of supply: $3.2710, $2.6220
Zones of Demand: $1.9800, $1.3680

The TONUSD market recently broke its structure due to the accumulation of bullish momentum. This led to a breakout on the upside of the triangle structure. However, the coin was not allowed to rise beyond $2.6220, which caused a drop back to $1.9800. Bearish pressure has begun to build on the market as it finds it a bit hard to push up from the level.

Toncoin Price Forecast: TON Outlook

The TONUSD market recently experienced a structural breakout fueled by accumulating bullish momentum, causing it to breach the upper boundary of a triangle pattern.

Nevertheless, the coin encountered resistance around the $2.6220 mark, resulting in a retracement to the $1.9800 level.

The emergence of bearish pressure is hindering the market’s ability to mount a significant upward push. While the market maintains a general uptrend, the rejection at $2.6220 has led to the Parabolic SAR (Stop and Reverse) dots moving above the daily candlesticks.

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

The MACD (Moving Average Convergence Divergence) lines are currently on a downward trajectory and are approaching the zero level from above, even as bearish histogram bars are evident.

Analyzing the 4-hour charts, it becomes evident that the price is struggling to initiate a substantial move from the $1.9800 significant level. Instead, it hovers around this level with Parabolic SAR dots alternating in the vicinity. Simultaneously, the MACD lines exhibit fluctuations near the zero level. Should the price regain its prior bullish momentum, it would likely overcome resistance and advance toward $3.2710.

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