Toncoin Price Forecast: TONUSD Initiates Bullish Reversal

Toncoin Price Forecast: October 18

The Toncoin price forecast is for the market to make the bullish reversal count by pushing the price to the next resistance level.

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

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

Toncoin seems to have commenced its bullish reversal after it displayed consecutive bullish candlesticks. Before the bullish candles, there was a display of a reversal candlestick pattern, which comprised consecutive inverted hammer candlesticks at the end of the downtrend. The price was supposed to bounce off $1.9800, but it dropped a bit below the level before gathering momentum to push higher beyond the triangle border.

Toncoin Price Forecast: TON Outlook

Toncoin appears to have initiated a bullish reversal, marked by a series of consecutive bullish candlesticks.

Prior to these bullish candles, a reversal pattern was evident, featuring a succession of inverted hammer candlesticks after a downtrend.

Initially expected to rebound from $1.9800, the price dipped slightly below this level before regaining momentum to surge past the triangle boundary. On the daily chart, the MA Cross is on the verge of confirming the uptrend with an upward crossover.

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

The Momentum indicator, while displaying a modest increase, suggests that the market has the potential to amass further momentum, potentially surpassing the anticipated level of $2.6220.

The 4-hour chart reveals an even more positive outlook, particularly with the MA Cross indicator confirming an upward crossover. The Momentum indicator in this shorter timeframe reflects a notable gain in momentum. For the market to succeed, it must maintain a position above the triangle boundary, which could facilitate a swift climb towards $2.6220.

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