spot_img
spot_img
spot_img
ThecoinrepublicCryptoTON coin price analysis: TON coin price...
google-news-img

Trending

Hamster

Hamster

notco

Notcoin

mogutou

Mogutou

Premium Partners

immerion
spot_img

TON coin price analysis: TON coin price surges to the supply zone

spot_img
  • Since the coin price bounced off the demand zone, the price of the TON coin has been increasing.
  • The price of the TON coin is currently consolidating close to the supply zone, where it is currently trading.
  • The price of the TON/BTC pair has increased by 1.69% over the previous 24 hours to 0.00007495.

    The TON coin price has recently bounced off the demand zone while trending upward. The cost of coins continues to revolve on the supply. However, it has formed a bearish rejection candlestick pattern on a daily time horizon. It has established a daily pattern with a symmetrical triangle.

    The price of the TON currency is producing higher high and higher low formations on a daily period. After overcoming all short-term barriers, the coin price is now trading in the supply zone. The price of the TON coin is currently trading at the upper band of the Bollinger band indicator after recovering from the lower band. In the daily time frame, the price of the TON coin has broken out above its 14 SMA and 50 MA. It is resting at these Moving averages at the moment. 

    Despite recent bullishness, the coin price has not yet crossed above the 100 Moving Average. As a result, the coin price may experience upward rejection before experiencing a sharp decline. Despite the bullish disaster of the previous day, volumes have dropped. Investors should therefore exercise caution and wait for a distinct trend.

    The TON coin price is forming a symmetrical triangle pattern on the daily time frame

    Average Directional Movement Index: As the currency keeps rising, the ADX curve has been rising in a higher time frame. The ADX curve has fallen out of the 35 levels and turned upwards on a daily time frame. As of 4 hours, the coin price is in the short-term demand zone. It is encouraging for the price of coins. Investors want to hold off until a bullish candle formation forms in the demand zone.

    Relative Strength Index: RSI curve is trading at the level of 63.75. The RSI curve has crossed the halfway mark of 50. Once the coin gives a breakout of a rounding bottom pattern on a daily time frame, the RSI curve can be seen moving up. The RSI curve has crossed the 14 EMA yellow line indicating a short-term bullishness.

    Supertrend: Supertrend indicator is positive as the coin price broke the important small-term supply zone on the daily timeframe. Since then the coin price has failed to give a breakout of the supply zone in a larger time frame. As of now, the coin price has broken the super trend sell line which has triggered a buy line.

    Conclusion: TON coin price has been hovering around the supply zone. The technical parameters suggest a bullish move in the upcoming days. The price action is also suggesting the same. It remains to see if the coin price will break the rounding bottom pattern or fall heavily

    Support: $2.0 and $1.8

    Resistance: $2.7 and $2.9

    Disclaimer

    The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

    Our Newsletter

    Subscribe to our newsletter to get the latest news and promotions.

    Andrew Smith
    Andrew Smith
    Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
    spot_img
    spot_img

    Related News

    Gary Gensler US SEC
    Maxwell Mutuma

    Can Gary Gensler Be Fired On This Congressman’s Request?

    Maxwell Mutuma
    BONK
    Andrew Smith

    BONK: Meme Coin On The Rise, Can Its Price Advance By 70%?

    Dogecoin price TCR Jul 9
    Varuni Trivedi

    Can Dogecoin Price Do 3x Gains? Here’s What Analysts Say

    Top Layer-2
    Ritika Sharma

    Top Layer-2 Tokens To Watch Out This Month: MNT, ARB, & OP

    Celestia Price
    Steve Anderrson
    spot_img