24-hour Price Analysis: TON Shows Minor 0.15% Surge as it Struggles to Break $5.800 Resistance

TON’s price has slightly increased by 0.15% in the past 24 hours, now trading at $5.768. Despite strong attempts to break through the $5.800 resistance, the token faces growing selling pressure. This article will analyze TON’s technical indicators, resistance levels, and potential price movements for the next 24 hours.

Resistance at $5.800 Limits Upside Potential

The $5.800 level has proven to be a tough resistance point for TON, with several failed attempts to break through. Until the token successfully clears this resistance, the price action is likely to remain range-bound. A break above this key level could spark a bullish rally, but failure to do so may result in a retracement toward lower support levels.

If selling pressure persists, the first major support will come from the 20-period EMA at $5.722, followed by the 50-period EMA at $5.671. These levels will play a crucial role in determining the current trend’s strength.

Moving Averages Show Strong Support Zone

The EMAs (20, 50, 100, and 200-period) are all positioned below TON’s current price, indicating that the token has built a solid support base. The 50-period EMA, at $5.671, is particularly noteworthy as it coincides with a previous consolidation phase. If the price retraces, this level could attract significant buying interest.

RSI Divergence Points to Bearish Reversal

The RSI divergence at 2.787 signals that buying momentum is weakening. Traders should monitor the RSI indicator, as a continued drop could indicate a stronger bearish reversal. If the RSI begins to show signs of recovery, it could signal that buyers are stepping in at lower support levels.

Despite falling 0.52%, TON’s price continues to test resistance at $5.800. A successful break above this level could drive the price higher, but failure could lead to a drop toward the 20-period and 50-period EMAs. RSI divergence adds an additional layer of caution, suggesting potential bearish momentum in the short term. Traders should remain vigilant, watching for a possible retest of support around $5.671 or a breakthrough above $5.800.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.