Key Points:
- Toncoin (TON) appears poised for a rebound, as the TD Sequential indicator offers a buy signal.
- Fibonacci retracement levels point to support at $7.33 and resistance at $7.51 and $7.69.
- Toncoin’s price has risen above a major support level, indicating a potential bounce.
TonCoin (TON) is expected to rebound, according to market analysts, who have seen a buy signal from the TD Sequential on the coin’s four-hour charts.
This buy signal, a leading indication among traders, implies a one- to four-candlestick price gain for the TON in the short term. Ali, a prominent market expert, published this information on Twitter.
Toncoin’s technical analysis: Why may it rebound?
Based on the Coin Edition analysis, Ali’s chart shows many technical levels and key indications that provide a clear picture of TON’s possible price movement.
Fibonacci retracement levels are an important tool in the analysis since they provide useful information about probable support and resistance locations.
According to the most recent trade data, Toncoin is trading at US$7.35, with the nearest support at US$7.33.
This support corresponds to the 0.382 Fibonacci level, implying that it could serve as a stopgap before the expected upward surge.
TD Sequential Buy Signal
The presence of a TD Sequential Buy signal on the charts is critical. This signal, denoted by the number 9 with an upward arrow, is highly regarded among traders for its ability to identify a likely price trend reversal.
In terms of TON, this indication implies a possible rebound, piqueing the attention of market observers eager to see if the token can reverse its present downward trend.
Furthermore, Fibonacci levels represent the possible TonCoin price movement. The initial point of resistance is at the 0.5 level, which is at US$7.51. This level is critical because it assesses the strength of the rebound.
If TON overcomes this resistance, the next big hurdle is the 0.618 level, which is set at US$7.69. Moving over this point will indicate a more positive trend, with the next targets being the 0.786 level at $7.95 and, maybe, the 0.886 level at $8.28.
Potential Future TonCoin Price Movement
Although the current support has been found by the recent downtrend, the emergence of the TD Sequential buy signal offers hope for a bullish reversal.
Technical analysis suggests that if TonCoin can maintain support at US$7.33 and break the initial resistance level, its price could see a substantial increase.
