Toncoin Crypto Price Prediction 2022 - Thinking of Buying TON?
Toncoin (TON) crypto surged over 13.74% today and over the last week is currently up by an impressive 26.88%.
Since the bottom of $0.75 on the 18th of June 2022, Toncoin is still up by 146% and trading at $1.85 at the time of writing this article.
Will Toncoin crypto continue to pump throughout the bear market?
Since the end of July Toncoin (TON) crypto has maintained steady pace within a strong looking uptrend. It is only recently that Toncoin has received significant traction and a large amount of trading volume.
Yesterday the price of Toncoin rocketed up to $2.14 and has since then seen a retracement of 14.2%. At the time of writing this article Toncoin resides within a descending channel and could possibly see another breakout to the upside.
Should Toncoin be able to retest the resistance trendline of $1.86 and break through we might see positive price momentum up to the next technical target of $2.00.
It is vital that Toncoin can hold the support trendline of $1.71 in order to prevent loss of price structure and potential continuation to the downside.
It is also worth noting that following the recent bullish momentum Toncoin is now looking overbought on the relative strength index, this could mean that the bulls are running out of morale and a bearish reversal may take place.
A result of Toncoin being able to break through the $2.00 resistance level could reflect that Toncoin might retest the $2.14 swing high from yesterday.
If this level is broken the Fibonacci extension shows a pragmatic technical price target would be $2.25 for Toncoin crypto by Q4 2022.
A recent price catalyst could be the hype associated with the Huobi Global centralized exchange partnering with TON.
Here is the official Tweet highlighting the
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