Toncoin Price Forecast: TONUSD Maintains a Range Near $2.2300

Toncoin Price Forecast: January 10

The Toncoin price forecast is for the market to continue fluctuating around $2.2300 until a direction is perceived.

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

Key Levels:
Zones of supply: $2.4800, $2.6000
Zones of Demand: $2.2300, $1.9800

The Toncoin market is sustaining a ranging movement around the $2.2300 significant level. The bulls had previously been pushing the market along a rising trendline. However, increasing pressure as the price rose toward $2.7720 ensured disrupted the upward flow and caused the price to fall back to around $2.2300. Since early December when this happened up until now, the market has failed to recover and keeps fluctuating around the same mark.

Toncoin Price Forecast: TON Outlook

The Toncoin market is currently navigating within a range centered around the $2.2300 significant level.

Despite prior bullish efforts driving the market along an ascending trendline, upward momentum faltered when the price approached $2.7720, leading to a retreat back to $2.2300.

Since this retracement in early December, the market has struggled to recover, maintaining a fluctuating pattern around this pivotal level.

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

On the daily chart, the Bollinger Bands contracting around the candlesticks signify an ongoing accumulation, predominantly focused on $2.2300. The Stochastic Oscillator lines provide a hint of bullish sentiment, oscillating between the overbought border and the middle line.

Examining the 4-hour chart, the Bollinger Bands envelop the candles, aligning with the market’s ranging movement, confirming consolidation in the short term. The Stochastic Oscillator lines further underline the ranging market, traversing the entire spectrum from overbought to oversold. The coin appears poised for a potential upward move from the confines of this consolidation.

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