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Toncoin Price Forecast: May 22
The Toncoin price forecast is for an imminent market drop towards the $4.85 support level where bulls are expected to regroup again.
Toncoin Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $6.50, $7.10, $7.67
Zones of Demand: $4.85, $5.68, $6.00
The Toncoin market could be set for a drop back towards the $4.85 support level as the buyers tire out. There has been a struggle for dominance since the price rose above the $4.85 support level. The $7.67 to the $7.10 zone has been the yielding point for buyers while reversal is being made at the $4.85 support level. At this point, the buyers have weakened again as the coin tries to rise above $7.10 and a drop is now imminent.
Toncoin Price Forecast: TON Outlook
The Toncoin market appears poised for a drop back towards the $4.85 support level as buyer strength wanes.
Since the price initially rose above $4.85 on the 24th of March, there has been a constant struggle for dominance. The $7.67 to $7.10 zone has served as a resistance for buyers, with reversals occurring at the $4.85 support level.
Currently, the coin’s attempts to rise above $7.10 have been thwarted, indicating an imminent drop.
Toncoin Medium-Term Trend: Bullish (4-hour chart)
Crypto signals are highlighting a potential decline. On the daily chart, the MA Cross (Moving Average) is on the verge of a downward cross, which would confirm the bearish trend. Additionally, the RSI (Relative Strength Index) line, which had been approaching the overbought territory, is now falling back towards the 50 mark, suggesting increasing bearish momentum.
On the 4-hour timeframe, the bearish signals are even more pronounced. There have been at least two downward crosses, reinforcing the likelihood of a strong downtrend. The RSI indicator on this timeframe fluctuates around the 50 mark but shows a clear bias toward bearish sentiment. Given these signals, Toncoin is expected to drop towards $4.85, where buyers may regroup and attempt to regain control.
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