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- TON trades within a tight range as volume drops and price stays below key structural levels.
- Analysts highlight continued weakness as TON fails to reclaim the 50 SMA and key demand zones.
- Momentum indicators show bearish pressure, with structure dependent on a reclaim of the $1.65 level.
Toncoin (TON) is currently trading at $1.52, which has fallen by 0.52% in one day. The trading volume has fallen by 16.38%, with its current volume being $64.32 million. The total market capitalization of TON stands at $3.7 billion. The price is within its compressing area but has not yet tested its breakout.
Source: CoinMarketCap
Analyst Umair Crypto highlighted that the structure was impacted after a fall from the $1.70 to $1.65 price zone, which is a demand zone. After breaching the 50-day Simple Moving Average, the price now trades in a narrow range between $1.515 and $1.558. This gap is a distribution range, as it is holding over several sessions without any signs of a price reversal.
The analyst further stated that TON has failed to reclaim important levels. The asset remains contained below the 50 SMA. Until this condition persists, the risk bias remains skewed to the downside. Only a strong reclaim at $1.65 will improve the outlook significantly.
Source: X
TON Tests Support With Limited Movement
Additionally, another analyst, Crypto TXG, mentioned that TON appears to have hit its support area, where price consolidation is taking place. The price action for TON remains well above its upper boundary for this support area.
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The analyst mentioned that this area tends to provide price stability for TON. The price may likely move upwards after a possible price bounce in this area or may fall if it breaks below its upper boundary.
Source: X
RSI and MACD Reflect Declining Strength
The Relative Strength Index (RSI) shows weakening momentum. The value of the RSI is 37.15, and the value of its signal line is 44.51. The Relative Strength Index is still trading in the lower band, showing low buying pressure. No sign of rising momentum is seen.
The Moving Average Convergence Divergence Indicator (MACD) is currently in a bearish position. The MACD line is currently at –0.044, while the signal line is at –0.027. This imbalance is also reflected in the histogram, which shows a value of –0.018.
Source: TradingView
TON is now trading in a restricted structure with definite boundaries. Market players continue to react at support points. A reclaim value of $1.65 is the major factor in changing the structure. Without it, the lower range may continue to influence price action.
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