Toncoin (TONUSD) Shows Signs of Upward Retracement

Toncoin (TONUSD) Price Forecast: June 3

The TONUSD market shows signs of upward retracement as the crypto maintains a steady price rise and above the resistance levels, confirming investors’ confidence and interest in the token. The coin price is upward; if buyers exert more force into the price action, the price surge might hit the $4.94 resistance barrier and extend to a $5.63 upper resistance level, resulting in more gains for buyers.

Key Levels:
Resistance Levels: $4.20, $4.30, $4.35
Support Levels: $2.45, $2.44, $2.43

TON (USD) Long-term Trend: Bullish (Daily Chart)

Despite the inflows from the bears, TONUSD shows signs of upward retracement and remains bullish on the higher time frame. The upward trend may continue due to increasing interest and confidence among coin investors.
The sustained bullish activity at a $3.22 high mark in the last 24 hours has made it easier for the crypto to retain its bullish strength in its recent high.

The Toncoin price is rising as buyers remain dominant and made an impressive move to the $3.25 supply value above the EMA-50, confirming signs of upward retracement, resulting in intraday gains.

Meanwhile, a bullish breakout from the current resistance level at $3.25 will trigger the upward retracement pattern and drive the price of TONUSD higher to the $4.94 value.

Hence, the market is pointing upwards on the daily signal, implying that the price of TONUSD may continue to trade in an uptrend.

In this case, the upward retracement could reach the $5.63 upper supply mark sooner, as the price continues to increase in its long-term outlook.

TON (USD) Medium-term Trend: Bullish (4H Chart)

Analyzing the chart below, the TONUSD shows signs of upward retracement, as it continues to make higher highs in the medium-term outlook.
The price still trades in an uptrend and will keep rising as it remains in a bullish market zone.

The high bullish impacts on the crypto at the $3.21 high level in the previous action have enabled the coin price to remain bullish in its recent correction.

At the writing time, the Toncoin pair showed signs of upward retracement as the bulls pushed the coin price to a $3.25 resistance point above the moving averages after the 4-hourly chart opened today.

Thus, if the long traders could increase their buying momentum and break above the $3.47 barrier, the bearish thesis would be invalidated.

Likewise, the upward retracement may continue as indicated by the daily signal pointing in an upward direction.

In light of this, the Toncoin price may surge to the $5.63 upper resistance value in the coming days as it shows signs of upward retracement and remains in an uptrend in its medium-term time frame.

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