Toncoin (TON) Price Prediction – When will TON hit $5?

The Upside pressure on the Toncoin (TON) has become potent as the price broke above two important resistance levels in the last two weeks. 

According to the TON’s weekly digest, the number of sales through the TRON-based anonymous number has been introduced by Telegram. Moreover, another platform Crypto Museum started supporting this platform while DefiLlama started to monitor it. 

Investors can utilize TON’s price surge which can be attributed to the most recent announcement of adding TON coin on three different centralized exchanges. Moreover, the next step of Telegram is to build several decentralized tools, which include non-custodial wallets and exchanges, where millions of traders can securely trade and store their crypto investments. The main aim of this project is to fix wrongdoings that happened by current centralized exchanges.

There are 1,221,401,181 TON are in circulation from the total supply of 5,000,000,000 TON. The current price is trading 60% higher in the last 7 days, where there is no significant sign of a bearish pressure from the top.

Should you try buying TON/USD now from the Toncoin price today?

Let's have a look at the complete Toncoin (TON) Price Prediction from the TON/USD technical analysis:

TON/USD Trades At The Premium Zone

 

 

On the TON/USD daily chart, the current price is trading at a premium level from where further bullish opportunity needs additional support from the fundamental event. 

If we read the price from left to right, the latest bullish Quasimodo pattern was at 1.3267 level, which is a valid bottom of the range. On the upside, the similar price action is available at the 2.90 level. Therefore, as the current price is at a premium zone from 1.3267 low to 2.9000 high, bears have a higher possibility of dragging the price down.

The situation of the cryptocurrency is often different than the traditional financial market as the massive daily price change is very common here. Therefore, the buying opportunity from the premium zone is also valid if the token has enough support from the volume.

If we look at the highest trading volume level from November low to December high, it is below the current price with a strong gap. It is a sign that the bearish exhaustion from the 2.90 top is not supported by institutional investors, which can resume the existing trend at any time. 

A minor bearish correction is pending in this pair as there is a gap between the price and dynamic 20 DMA.  The current Relative Strength Index reading shows a bearish possibility as it showed a rebound from the overbought 70% level.

Based on the daily Toncoin Price Prediction, any minor bullish correction and a bearish rejection from 2.6450 to 29000 area could offer a strong bearish opportunity, where the main aim is to test the 1.7561 high volume level.

On the other hand, any bullish rejection from the 2.0000 to 1.7561 area might offer a bullish trend continuation opportunity. In that case, a bullish daily close above the dynamic 20 EMA would be a conservating approach to follow the broader bullish trend.

TON/USD Ichimoku Cloud Analysis

 

 

In the TON/USD H4 chart, the bullish trend is still valid as the current price is above the Ichimoku Kumo Cloud. However, the bullish momentum above the cloud support has become volatile, which can limit the upside momentum at any time.

In the future cloud, the Senkou Span B is flat and below the Senkou Span A, which is a sign of  a corrective price action. Moreover, the selling pressure took the price below the dynamic Kijun Sen level, which is a sign of a corrective price action.

In the indicator window, the MACD Histogram is bearish while the MACD EMA is aiming lower with a bearish crossover. However, the price is still above the cloud support, which needs a breakout before forming a trend trading opportunity. Any upside pressure and further rejection from 2.4463 to 2.6492 level could increase the bearish possibility targeting the 1.8100 level.

On the bullish side, any bullish rejection from 2.1897 support level with a bullish H4 candle above the dynamic Kijun Sen could offer a long opportunity, targeting the 3.00 level.

TON/USD Intraday Price Action Analysis

 

Although the selling pressure is potent in the daily chart, the intraday H1 price shows a corrective momentum as the current price trades at the visible range high volume level.

The dynamic 20 EMA and weekly VWAP are above the current price, while the near-term static resistance level is at 2.5661. In that case, the bearish possibility is potent as long as it trades below the 2.5661 resistance level.

Based on the H1 ton price prediction, any bearish rejection from the dynamic 20 EMA could offer a short opportunity in this pair, targeting the 1.8186 support level. On the other hand, a bullish recovery and a H1 candle above the 2.5861 level could eliminate the bearish structure and open a long opportunity, targeting the 3.0000 level.

Is TON/USD A Buy?

Based on the current Toncoin Price Analysis, TON/USD bullish pressure needs more confirmation before offering a trading opportunity.

As the current price is facing an intraday selling pressure the primary aim is to find a minor bullish correction and bearish rejection from the near term resistance level.

Read Next