Toncoin Price Analysis: Will TONCOIN Surge to hit $1.71


  • TONCOIN has its next resistance at $1.71.
  • Toncoin’s EMA(10) shows a upward trend.
  • TONCOIN down approximately -7.4% within the last 24 hours.
  • TONCOIN/USD medium term support stood at $1.41.

03 October 2022 : In this article we will walk you through Toncoin price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Toncoin, Is TONCOIN a good investment? Toncoin support & resistance levels etc. But before diving deep into the TONCOIN technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,458,512,284. The total trading volume stands at $55,235,219,316. Bitcoin shares 39.8 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,557.65 level after an upward movement of 1.84%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.18 percent reaching to $1,325.92 during the previous 24 hours.
While publishing this blog, BNB traded at $288.29, following a price change of 1.74% within the same time frame. XRP the native coin of XRP is down by -0.44 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.54% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Toncoin Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Toncoin (TONCOIN)

TONCOIN Resistance Levels TONCOIN Support Levels
Resistance Level 1 $1.71 Support Level 1 $1.49
Resistance Level 2 $1.85 Support Level 2 $1.41
Resistance Level 3 $1.93 Support Level 3 $1.27

Toncoin Performance

The daily chart of Toncoin shows that the TONCOIN price has a downward movement with a -7.4% decrease in past 24 hours. The price value of the Toncoin (TONCOIN) coin is standing at $2.22 with market capitalization $2,708,675,968.00 USD. TONCOIN price changes -8.95% over the week while the trading volume is hovering around $8,774,864.00 USD.

Toncoin Price Analysis

TONCOIN price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Toncoin.

Moving Averages Price Indicator
Simple Moving Average (10) 1.59 Buy
Exponential Moving Average (10) 1.58 Buy
Simple Moving Average (20) 1.64 Buy
Exponential Moving Average (20) 1.63 Buy
Simple Moving Average (50) 1.80 Buy
Exponential Moving Average (50) 1.79 Buy

The relative Strength Index (RSI) indicates that the TONCOIN coin is near oversold zone, as RSI is at 38. While TONCOIN’s Williams %R indicator is at -82.508 for the 14-day time period indicating a oversold condition and short term trend reversal is possible. Bulls can move the market in upward direction. The MACD line is standing above of the signal line after a positive crossover. Toncoin investors need to wait for any directional change over the daily chart.

Conclusions

As of now, Toncoin is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the TONCOIN move into the positive zone. In 2022 and beyond, the Toncoin price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.