Looking at the technical analysis and current trends of Toncoin (TON), the situation can be summarized as follows:
1. General market condition:
Technical indicators point to an overall bullish case for Toncoin, with most indicators (25 out of 27) showing a positive outlook, with investors leaning towards optimism as measured by the Fear & Greed indicator which reads the “Extreme Greed” level. However, caution is advised as this could reflect potential price inflation.
2. Main levels:
• Support: $6.07 and $5.80 are the key levels to watch as defense zones.
• Resistance: It is located at $7.09 and $7.33, as these levels could represent obstacles to the price rise.
3. Artistic direction:
• Moving averages indicate positive signals in both the short and long term. For example, the price is trading above the short term moving averages, which supports the positive trend.
• The Relative Strength Index (RSI) at 66.12 indicates a neutral condition, meaning that the currency is not in an overbought or oversold zone.
4. Expected price:
TON price is expected to reach around $8.65 by the end of December 2024 if the current momentum continues.
Additional recommendations:
• For short-term investors: Breakouts at resistance levels can be followed to identify potential entry points.
• For long-term investors: Keeping track of technical developments and widespread adoption of the project is an important factor in supporting the future value of the currency.
For a more detailed look or a live chart, you can rely on analysis platforms like TradingView or similar tools.
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