Toncoin Price Prediction: Is Ton Set for More Price Declines

A daily close above $7 would overturn the bearish outlook

• #Toncoin reached an all-time high of $8.28 on June 15 before retreating.

• Starting July, bulls attempted to breach the previous high but failed, leading to a drop to $6.50, aligning with the 50% Fibonacci retracement level.

• #Toncoin has breached the ascending trendline and the daily support level at $7.00.

• Following six consecutive red candles, $TON is forming a green candle today.

• $TON price is attempting to validate a rebound from interim lows before testing monthly lows, suggesting a potential bullish scenario.

• RSI is at 40 and trending downward, with the price below the 20, 50, and 100-day moving averages.

• According to Coingabbar Prediction, If the bulls sustain above the current range, the price could reach double digits in the coming week.

• If the bulls fail to cross the $7.00 resistance, Toncoin may fall towards support levels of $5.50 to $4.50.

KEY LEVELS :

RESISTANCE LEVEL : $7.70-$9.00

SUPPORT LEVEL : $6.00-$4.50

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