Toncoin, Telegram Token Look Bullish
Based on this analysis, Toncoin shows significant bullish potential in the short to medium term. The current price of Toncoin is $6.90. The chart shows that the price is predicted to rise to $16.70 in 42 days, giving an upside of 145.03%.
Support & Resistance
- There is seen strong support around $5.03 (EMA 21).
- The resistance level is located around $7.04, which was recently tested and may be broken if the bullish trend continues.
Price Pattern:
An ascending Triangle pattern is visible, which usually indicates a potential bullish breakout. This pattern has been confirmed with an upward breakout.
Technical Indicators:
The stochastic indicator shows 69.10 (K%) and 66.35 (D%), which shows that Toncoin is approaching the overbought zone but not yet oversaturated, so there is still room for further increases.
Fibonacci Extensions:
The $16.70 price target is based on the 2.618 Fibonacci extension level, which is often used to project post-breakout price potential.
Support & Resistance
- There is seen strong support around $5.03 (EMA 21).
- The resistance level is located around $7.04, which was recently tested and may be broken if the bullish trend continues.
Price Pattern:
An ascending Triangle pattern is visible, which usually indicates a potential bullish breakout. This pattern has been confirmed with an upward breakout.
Technical Indicators:
The stochastic indicator shows 69.10 (K%) and 66.35 (D%), which shows that Toncoin is approaching the overbought zone but not yet oversaturated, so there is still room for further increases.
Fibonacci Extensions:
The $16.70 price target is based on the 2.618 Fibonacci extension level, which is often used to project post-breakout price potential.
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