Toncoin Price Forecast: TONUSD Surges by 23%

Toncoin Price Forecast: May 8

The Toncoin price forecast is for a continuation of its bullish momentum after a slight retracement back to $5.68.

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

Key Levels:
Zones of supply: $6.00, $7.10
Zones of Demand: $4.85, $5.68

The Toncoin market has leaped from the $4.85 demand level to record a 23% price increase. Previously a bearish sentiment pervaded the market as the bulls got exhausted after setting a new all-time high at $7.67. The coin gradually slumped to $4.85, a major support level that has kept the market up. Buyers regrouped to defend this level leading to the strong price surge to $6.00. However, TONUSD has had to pull back to around $5.68.

Toncoin Price Forecast: TON Outlook

The Toncoin market experiences a notable uptrend, soaring from the $4.85 demand level to achieve a remarkable 23% price increase.

Previously, a bearish sentiment gripped the market following a period of exhaustion among bulls after establishing a new all-time high at $7.67. Gradually, the coin retraced to $4.85, a pivotal support level that effectively sustained the market.

Buyer resurgence ensued, leading to a robust price surge to $6.00, although Toncoin (TONUSD) subsequently retraced to around $5.68.

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

On the daily chart, the Parabolic SAR (Stop and Reverse) dots align below the daily candles, affirming the upward movement. Meanwhile, the Moving Average Convergence Divergence (MACD) lines exhibit an upward crossover and are presently positioned at the equilibrium level, indicative of a potential shift in control to the bulls.

Within the 4-hour timeframe, the price briefly surpassed the $6.00 mark before retracing below this level. However, the market finds support around $5.68, suggesting a potential rebound. Despite the pullback, the MACD lines, although above the zero level, have crossed downward in response to the retracement. Similarly, the Parabolic SAR dots above the candles denote the market’s reaction to the pullback. Nonetheless, TONUSD is anticipated to bounce back and resume its upward trajectory.

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