Toncoin Price Forecast: TONUSD is Likely to Consolidate into the New Year

Azeez Mustapha


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Toncoin Price Forecast: December 20

The Toncoin price forecast is that the market will remain in consolidation through the new year before bullish attempts reemerge.

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

Key Levels:
Zones of supply: $2.2300, $2.6000
Zones of Demand: $1.9800, $1.3680
Toncoin Price Forecast: TONUSD is Likely to Consolidate into the New YearToncoin is looking more likely to spend Christmas into the new year in consolidation. This is because the bulls that were driving the market were dealt a huge blow when the price failed to squeeze itself past the $2.7720 resistance level. Furthermore, the coin also dropped from the trendline it had been following upward. The market now seems to be confined under the $2.2300 resistance and bounded below the $1.9800 demand level.

Toncoin Price Forecast: TON Outlook

TONUSD is poised for a consolidation phase extending into the new year. The prospects of undergoing a year-end consolidation are increasingly probable.

This shift is attributed to a significant setback suffered by the bulls, unable to breach the $2.7720 resistance level.

Additionally, the coin deviated from its upward trendline, now confined under the $2.2300 resistance and supported by the $1.9800 demand level.

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

The confirmation of bearish sentiment is evident with the Parabolic SAR dots aligning above daily candlesticks. The MACD lines dipping below the zero level, accompanied by visible bearish histogram bars, further accentuate the bearish scenario.
Toncoin Price Forecast: TONUSD is Likely to Consolidate into the New YearThe consolidation pattern is distinctly observable on the daily chart, with prices moving laterally below $2.2300. The Parabolic SAR fluctuates around the daily chart, while the MACD lines, persistently below the zero level, indicate continued consolidation. This trend is anticipated to persist into the new year, following which bullish attempts may reemerge.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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