Despite the fact that the TON price is currently 5% below its all-time high, the altcoin is still experiencing a strong upward trend. Based on technical analysis, which includes both simple and exponential moving averages, Toncoin is currently situated in a favorable buying zone that has the potential to drive its value even higher. Additionally, indicators such as the moving average convergence divergence (MACD) and momentum are also signaling a positive outlook.
However, it is worth noting that the relative strength index is currently hovering around 68, which is close to the overbought territory. If the index surpasses 70, there is a possibility of a price reversal that could lead to a decrease in the TON price. Presently, there is a sense of heightened greed among investors, and it is anticipated that the TON price could climb to $7.85 within the coming days.
