Toncoin is trading at the time of publication of the forecast at the level of 6.5335, continuing to move within the framework of growth and a bullish channel. Moving averages indicate a short-term bullish trend for the coin. Prices have broken through the area with upward signal lines, which indicates pressure from coin buyers and potential continued growth from current levels. As part of the TON/USD exchange rate forecast, it is worth considering an attempt to develop a minor correction in the value of a digital asset and a test of the support area near the level of 6.4005. From where again a rebound is expected and an attempt to continue the growth of the Toncoin cryptocurrency with a potential target above the level of 7.0005.
Toncoin cryptocurrency forecast for May 31, 2024
An additional signal in favor of raising the quotes of the TON/USD asset for tomorrow will be a rebound from the trend line on the relative strength index. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option with the growth of the Toncoin cryptocurrency will be a fall and a breakdown of the 6.3005 area. This will indicate a breakdown of the support area and a continued fall in TON/USD quotes with a target below the level of 6.0005. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 6.6105, which will indicate a breakdown of the upper boundary of the bearish correction channel.
Toncoin cryptocurrency forecast for May 31, 2024 suggests an attempt to develop a correction of the coin and a test of the support area near the level of 6.4005. Then, continued growth to the area above the level of 7.0005. An additional signal in favor of Toncoin growth will be a test of the trend line on the relative strength indicator (RSI). Cancellation of the rise option will be a fall and a breakdown of the 6.3005 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 6.0005.
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