Despite TON being just 5% away from its all-time high, the altcoin continues to show a strong upward trend. Based on technical analysis, which includes both simple and exponential moving averages, Toncoin is currently in a prime buying zone that could potentially drive its value even higher. Furthermore, indicators such as the moving average convergence divergence (MACD) and momentum indicators also support this bullish trend.
However, it is important to note that the relative strength index is currently sitting at around 68, which is close to the overbought territory. If the index surpasses 70, there is a possibility of a price reversal leading to a downward trend for TON. Presently, there is a sense of greed among investors, and there is a forecast that the TON price could reach $7.85 in the upcoming days.