Analysis of the Toncoin price
Toncoin
TON
tickers down
5.51 €
has been trapped within a wide range between 4.44 dollars and 8.29 dollars for several months, indicating buying on dips and selling on rallies.
The descending 20-day EMA (5.73 dollars) and the RSI in negative territory indicate an advantage for the bears. The TON/USDT pair is likely to fall to strong support at 4.44 dollars, where buyers are expected to intervene.
On the positive side, a breakout and close above the moving averages will suggest that buyers are attempting a comeback. The pair could rise to 6.50 dollars and subsequently to 7 dollars, which could act as strong resistance.
