Toncoin (TON) Price Analysis: Rally Stalled by 21-Day SMA, Return to Range or Breakdown Below $3.38 Support?

The price of Toncoin (TON) has rallied above the $3.55 support but was stopped by the 21-day SMA. TON will return to its range if it falls below the 21-day SMA

The price of Toncoin (TON) has rallied above the $3.55 support but was stopped by the 21-day SMA. This indicates that the bulls are facing some resistance at this level. If the price falls below the 21-day SMA, it could indicate that TON will return to its range. In this case, the price of the cryptocurrency is likely to fall and fluctuate between $3.40 and $3.50.

However, if the negative trend continues and TON breaks below the current support, it will return to the previous low at $3.38, as reported by Coinidol.com. Once the price breaks above the 21-day SMA, TON will resume its uptrend. The upside momentum will carry the price to the 50-day SMA barrier. At the time of writing, the price is falling and at $3.77.

Analysis of the TON indicator

The price bars are below the moving average lines, which indicates a negative trend. On the 4-hour chart, the moving average lines have been pushed up by buyers, which indicates that the TON is rising.

However, the moving average lines are diverging horizontally, which indicates the current sideways trend.

Technical Indicators

Resistance Levels: $6.00, $8.00, $10.00

Support Levels: $5.00, $3.00, $1.00

What is the next move for Toncoin?

The price of TON is fluctuating sideways between $3.50 and $4.00. Today, the cryptocurrency has broken above the moving average lines. But resistance at $3.80 has rejected the uptrend. TON is recovering as it remains above the $3.38 support.