Toncoin Price Forecast: TONUSD Indecisive About Price Direction

Toncoin Price Forecast: July 5

The Toncoin price forecast is for the market to decide on price direction after a period of indecision above the $1.3680 key level.

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

Key Levels:
Zones of supply: $1.8100, $2.0040, $2.6220
Zones of Demand: $0.7420, $0.9940, $1.3680

The Toncoin market is yet to decide on its price direction, both on a large and small scale. On a large scale, the price is tapering through a triangle shape, and the breakout could be upward or downward. Likewise, on a smaller scale, the price is currently hung up at the $1.3680 level, with the possibility of rising or falling below the level.

Toncoin Price Forecast: TON Outlook

The Toncoin is currently being tussled for by the bulls and bears. This has led to a tapering movement through a triangle structure. The market is expected to break out in either direction.

As this progresses, there are also some hesitations on the smaller scale. The price is sprawled on the $1.3680 support level after it spiked to $0.9940. TON is now indecisive about whether to drop again or just rise from there.

The EMA period 30 (Exponential Moving Average) on the daily timeframe is hanging above the candlesticks, indicating that despite the recovery from the downward spike, TON is still bearish.

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

The RSI (Relative Strength Index) line also suggests that the market is currently bearish in orientation since the line has gradually transitioned to the bearish half of the chart since March and has been undulating below the 50 mark since then.

On the 4-hour chart, the RSI line is undulating from the oversold region to the overbought region and back again. This shows that the bulls have been aggressive lately, causing a disruption that could change the tendency of the coin to a bullish one.

 

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