Coinidol.com: TON Recovers Above the $1.40 High

Toncoin (TON) has recovered and is now above the moving average lines, reaching a high of $1.51.

TON price long-term forecast: bullish

Previously, Toncoin rose to $1.93 before being rejected at that recent high. This is the second time the altcoin has faced selling pressure above the moving average lines. Currently, the TON price is reverting near the moving averages.

On the downside, if the cryptocurrency price retraces but remains above the moving average lines, TON will resume its bullish ascent, surpassing them and approaching the $1.50 high. However, if sellers push the price below the moving average lines, TON will fall to its critical support at $1.20.

Technical Indicators

• Key Resistance Zones: $4.00, $4.50, and $5.00

• Key Support Zones: $3.50, $3.00, and $2.50

Toncoin indicator analysis

TON price has resumed its upward trend above the horizontal moving average lines. On April 11, the long candlestick wick indicates significant selling pressure at the $1.51 high.

On the 4-hour chart, the 21-day and 50-day SMAs are moving upward, with the price above them. The cryptocurrency price will rise if buyers keep it above the moving average lines.

What is the next move for TON?

TON is now trading in the positive trend zone. On the 4-hour chart, the cryptocurrency price is above the moving average lines but below the $1.50 high.

Currently, the retracement has stalled above the 21-day SMA support. The altcoin may continue its upward trend above the $1.40 support level.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.