Toncoin Price Forecast: TONUSD Maintains Range Below $2.4800 with Upward Momentum

Toncoin Price Forecast: January 17

The Toncoin price forecast is for the market to eventually edge upward after it ends its long-drawn price consolidation.

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 Toincoin market is showing some signs of altering its current ranging movement. Since dropping off from a rising trendline, the bears have matched the strength of the bulls. This has resulted in the market fluctuating around the significant level of $2.2300. The $1.9800 zone underlines the market from below, while the $2.4800 zone caps it above. The price could still range for a while more.

Toncoin Price Forecast: TON Outlook

The Toincoin market exhibits indications of a potential shift in its current ranging pattern.

Following a descent from a previously ascending trendline, bearish and bullish forces have been evenly matched, leading to fluctuations around the significant level of $2.2300.

The market is confined by the $1.9800 support and $2.4800 resistance zones, suggesting a continued range-bound movement.

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

On the daily chart, the RSI (Relative Strength Index) hovers around the 50 mark, reflecting the market’s indecision. However, the daily Stochastic Oscillator lines reveal an intriguing development as they slightly tilt upward, reaching into the overbought region despite maintaining a ranging pattern.

The 4-hour timeframe underscores the ranging scenario in the indicators. Both the RSI and Stochastic Oscillator lines demonstrate a ranging movement, however, with a rise to test the overbought border before retracting. This alignment suggests the market’s inclination towards an upward push from the ongoing consolidation.

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