Toncoin (TONUSD) Price Forecast: August 22
The TONUSD market shows signs of upward retracement as the crypto maintains a steady price rise and stays above the resistance levels, confirming investors’ confidence and interest in the cryptocurrency. The coin price is going upward; if buyers exert more force into the price action, the price surge might hit the $8.24 resistance barrier, bolstering buyers for a higher recovery.
Key Levels:
Resistance Levels: $5.00, $6.00, $7.00
Support Levels: $3.00, $2.00, $1.00
TON (USD) Long-term Trend: Bullish (Daily Chart)
Despite the inflows from the sell traders, TONUSD shows signs of upward retracement and remains bullish on the higher time frame. The upward trend will likely continue due to increasing interest and confidence among the coin investors.
The sustained bullish activity to a $6.89 high mark in the past few days has made it possible for the Toncoin to show signs of upward retracement and retain its bullish strength in its recent high.
The crypto’s price is going up as buyers remain dominant and made an impressive move to the $6.93 supply value above the EMA-50, confirming signs of upward retracement, resulting in intraday gains.
Meanwhile, a bullish breakout from the current resistance at the $6.93 level will trigger the upward retracement pattern and drive the prices of TONUSD higher to hit the $8.24 value.
Hence, the market is pointing upwards on the daily signal, implying that the price of Toncoin will continue to trade in an uptrend. In this case, the upward retracement could reach the $8.00 upper supply mark sooner, as the crypto price shows signs of upward retracement in its long-term outlook.
TON (USD) Medium-term Trend: Bullish (4H Chart)
Analyzing the chart below, the TONUSD shows signs of upward retracement, as it continues to make higher highs and higher lows in the medium-term outlook. The price still trades in an uptrend and will keep rising as it remains in a bullish market zone.
The high bullish impact on crypto at the $6.83 high level in the previous action has made the coin price remain, and trade has been in an uptrend lately.
At the press time, the Toncoin pair showed signs of upward retracement as the bulls pushed the coin price to a $6.89 resistance point above the moving averages as the 4-hour chart opened today. Thus, if the long traders could increase their buying momentum and break above the $7.26 barrier, the bearish thesis would be invalidated.
Likewise, the upward retracement may continue as indicated by the daily signal pointing in an upward direction. In light of this, the Toncoin price might reach the high at $8.00 upper resistance value soon as it shows signs of upward retracement and remains in an uptrend in its medium-term time frame.
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