Toncoin (TONUSD) Price Forecast: September 7
The recent market structure suggests that the TONUSD price will go higher, and a potential breakout could lead to a rise in the coin price. The coin has been steadily moving upwards in the last 24 hours. If the price breaks above the resistance at $8.24 with strong volume, it could signal the end of a downward trend, leading the coin price to a $9.00 upper resistance level, resulting in a buy signal for the coin traders.
Key Levels:
Resistance Levels: $5.00, $6.00, $7.00
Support Levels: $3.00, $2.00, $1.00
TON (USD) Long-term Trend: Bearish (Daily Chart)
TONUSD rebounded after its massive drops, suggesting that the coin price will go higher as it embarks on the bullish momentum in its long-term outlook. The market price is below the moving average, indicating a downward trend. Meanwhile, the market shows that the price will go higher as it faces resistance in its recent price level.
The bears’ pressure to a $4.57 low mark in the previous session has made the crypto price drop below the resistance levels in its recent high.
The Toncoin price pulled back to a $4.70 high level below the EMA-50 as the daily chart commences today, suggesting that the price will go higher, resulting in intraday gains.
In addition, further upsides are likely as the price of TONUSD is in an upward direction as indicated by the price indicator, indicating that the coin price will go higher while the bulls continue to dictate the price action of the market. In light of this, the crypto price might extend to a $9.00 high trend line in the days ahead in its long-term outlook.
TON (USD) Medium-term Trend: Bearish (4H Chart)
The Toncoin market has started its bullish pattern and will go higher, as seen in the chart below. The price is trending towards the resistance, indicating a bearish trend.
The persistent bearish pressure on the crypto in the last few hours has made the coin price remain below the supply levels in its recent high. Meanwhile, the coin price will go higher as the bulls have just resumed the rising pattern.
At the time of writing the article, the long traders made a turnaround at the $4.70 resistance value below the EMA-50 by returning to the market after the drops by the short traders shortly after today’s 4-hourly chart opens, implying the TONUSD price will go higher.
Therefore, if the bulls break above the $7.26 barrier level, the bearish thesis will be invalidated, and the crypto price will go higher.
Likewise, the daily stochastic signaled that the Toncoin price will go higher, by pointing up at the oversold region. Hence, the potential rally might extend the crypto price to a high at $8.00 upper resistance value in no long time in its medium-term outlook.
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