 is indicating a potential recovery from the current level. The price of TON has been trending downwards since April.){kind=link}
- Toncoin (TON) is currently trading at $1.38 with a rise of +1.82% in 24 hours.
- Toncoin (TON)’s live market cap is $4,724,126,203.9.
- Toncoin (TON)’s 24-hour volume is $3.19 Million.
As per the analysist, the price of Toncoin (TON) is indicating a potential recovery from the current level. The price of TON has been trending downwards since April 2023 when it reached its peak at $2.60. The price of TON coin dropped by around 48% within a 3-month period. It found support around $1.33 and then tried to move higher, but it encountered resistance at $1.54. Currently, TON is trading between $1.52 and $1.32 in a rectangular pattern.
There is a strong likelihood of an upward rise in the short term given the optimistic mindset and general pricing structure. The currency has recently gained almost 5% over the last two days, which further suggests that it is gaining strength and may be a hint of a trend reversal.
Toncoin (TON) Price Analysis
EMA
Looking at the daily trend, the price of TON is close to the 20-day exponential moving average (EMA), and based on the overall trend, we can predict that the price will go above the EMA in no time.
MACD
The MACD line for Toncoin (TON) is moving above the signal line daily, which is a bullish sign. You can also spot green histograms, which is a sign that the momentum is increasing.
RSI
The SMA line is above the RSI line, which is currently above 50. These signals suggest the possibility of a sustained uptrend or a rise in the price or consideration. The price will move up until it crosses the overbought area.
Volume Analysis
The current trading volume of Toncoin (TON) is $3.19 million, which is a 5.40% increase from the previous day. The increase in trade volume indicates that there are more buyers in the market. This indicates that there is more market activity in the market. Therefore, there is a higher chance that the price of TON will go up.
Conclusion
Based on the daily trend indicators, there are several bullish signs for TON coin. First, there has been a significant rise in the volume of TON. This means that there is more market activity and demand for the asset. Second, TON is currently trading below a support level. This suggests that buyers are ready to enter the market and prevent the price from falling further. Thirdly, the trend indicators are pointing in the direction of an upward movement for TON. This could be a bullish or a positive trend indicator, such as RSI, EMA, or any other trend indicator.
Technical Levels
- Support – The current support level of Toncoin (TON) is $1.32.
- Resistance -The current resistance level of the Toncoin (TON) is $1.54.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
