Toncoin Price Forecast: TONUSD Crypto Signals Indicate Bearish Dominance

Toncoin Price Forecast: May 1

The Toncoin price forecast is for the market to keep moving toward the sellers if it doesn’t make a reversal at the current $4.85 level.

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

Key Levels:
Zones of supply: $5.27, $6.50, $7.67
Zones of Demand: $4.85, $4.52, $4.05

TONUSD continues in a downward direction under the influence of the sellers. This is in contrast to the direction of the market a month ago when the bulls were rallying the price through the levels. The turning point was at the $7.67 resistance zone on the 11th of April. The coin hit an impermeable level and immediately got the bulls destabilized. They could not hold the market up which led to the continuous downtrend in prices till today.

Toncoin Price Forecast: TON Outlook

TONUSD persists in its downward trajectory, driven by the influence of sellers.

This marks a notable departure from the bullish market sentiment observed a month ago when buyers propelled prices through successive levels.

The turning point occurred at the $7.67 resistance zone on April 11th, where the coin encountered significant resistance, causing bulls to lose their foothold and triggering a sustained downtrend that persists to date.

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

Analysis of the daily chart reveals the aftermath of the market rejection, with bears exerting considerable pressure on the MA period 20 (Moving Average) line for an extended period. Subsequently, on April 22nd, the price breached below the MA line, signaling further bearish momentum. Additionally, the Stochastic Oscillator lines, previously fluctuating around the overbought border, have now descended into the oversold region, indicating heightened selling pressure.

Examining the 4-hour timeframe, the price plummeted below the MA period 20 following the rejection at $7.67. Although there was some initial fluctuation around the MA line, subsequent candlesticks definitively slipped below it. Moreover, the Stochastic Oscillator lines predominantly reside within the bearish half of their chart, occasionally venturing into the overbought border. Overall, crypto signals suggest that the Toncoin market remains firmly under bearish dominance, a trend likely to persist in the near term.

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