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- 1 Toncoin price prediction is highly bullish and suggests more upside may be visible in the coming months.
- 2 TON price holds $2.00 support and formed a bullish continuation pattern.
- 3 The 50-day and 200-day EMA slopes upward and the TON crypto price sustains above it.
Toncoin price prediction is bullish for the long term and suggests more upside momentum is pending.
TON price took support near $2.000 and reverses upward indicating buyers are active at the lower levels. It formed a bullish continuation pattern and attempted to break out of the $2.6000 swing high hurdle.
Toncoin price continues to trade above the 50-day and 200-day EMA denotes an uptrend. Moreover, the 50-day EMA positively intersected the 200-day EMA showcases golden crossover. It further fueled the rally and boosted the confidence of long-term investors.
In the last month, TON price consolidated in the narrow range of $1.9000 to $2.2000. Sellers tried to drag the price below the lower range to erode the previous gains but luckily, the bulls were active and succeeded in absorbing the sell-off.
At the beginning of November, the buying volume increased and the price also began to rise by forming higher highs. It indicates that some genuine investors thought the TON price was cheap and decided to inject money into it.
At the time of writing, Toncoin price is trading at $2.6703 with a one-day decline of 0.03%.
Is the Rally in Toncoin Price Sustainable?
Toncoin price prediction favors the bulls and suggests the rally has just begun and more scope of upside is open. The recent rally in the TON crypto price is supported by a high buying volume. So, it increases the probability of holding the higher levels.
Till the TON price sustains above $2.00, any short-term retracement may get bought up. The next phase of the rally in Toncoin crypto will trigger when buyers succeed in breaking out of the $3.00 hurdle.
The analysis suggests that TON crypto is inside the bulls’ grip and getting ready for a massive breakout.
Positive Momentum in TON Price Intact
TON price turned bullish on a daily and weekly time frame chart. The positive momentum in this crypto price is intact and no signs of weakness are visible in the chart. Meanwhile, the overall crypto market is bullish which is also indirectly supporting the TON bulls.
The MACD curve reverses upward and displays a positive crossover. The histogram forming higher high bars confirms the strength in the recent up move. However, the RSI reached 80 which denotes an overbought territory. So, a minor correction in price is possible before heading higher.
Conclusion
Toncoin price prediction is bullish for the long term as well as for the upcoming months. The recent rally in TON crypto looks reliable and bulls are likely to hold the recent gains.
The analysis suggests that the TON price is in an uptrend and will easily achieve the $3.00 mark by December 2023.
Technical Levels
- Resistance Levels: $3.0013 and $3.5600
- Support Levels: $2.2000 and $1.9000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
