Toncoin (TON) has been trading from $4.60 to $4.80 over the last 24 hours, attempting to recover from a recent downtrend. The cryptocurrency has shown resilience but continues to face bearish pressure. This article analyses TON’s price movement using technical indicators such as the Exponential Moving Averages (EMA) and the Average Sentiment Oscillator (ASO).
Key Levels and Indicators
The chart shows Toncoin’s price interacting with multiple EMA levels—20, 50, 100, and 200 periods. The current price of $4.76 sits just below the 20 EMA at $4.78, indicating that TON is experiencing difficulty breaking above short-term resistance. The 50 EMA ($4.77) and 100 EMA ($4.87) are also key levels to watch as the price continues to battle these lines.
The longer-term 200 EMA is around $5.10, suggesting that a more significant resistance zone lies ahead if TON manages to break upward. The EMAs’ downward trajectory further emphasises the market’s selling pressure.
Average Sentiment Oscillator Insights
The Average Sentiment Oscillator (ASO) indicates mixed momentum. As of the latest reading, the blue line at 60.89 shows bullish momentum, while the red line at 39.10 indicates bearish strength. The convergence and divergence between these lines are key to understanding the shifting sentiment in the market.
Although the ASO has recently displayed bullish signals, the declining price trend shows that sellers still dominate the market. The crossover of the blue line above the red suggests that buyers could attempt a comeback, but this momentum hasn’t been sustained, as evidenced by the latest price action.
Related article: TON & NOT Tokens Face Major Crash Warnings as 87% of Investors Report Losses
Price Outlook for the Next 24 Hours
Toncoin faces a critical moment in its price trajectory. The inability to break above the EMA resistance levels suggests that TON could experience more downside. A fall below $4.70 could trigger a further decline toward the $4.60 support zone.
On the flip side, if TON can build momentum and close above the 20 and 50 EMAs, it could regain strength and aim for the $4.90 to $5.00 range. A break above the 200 EMA at $5.10 would signify a more robust recovery, but this scenario seems less likely given the current market dynamics.
Toncoin remains under bearish pressure despite brief, bullish attempts. The EMAs and ASO indicate that sellers are still in control, although buyers may attempt to push the price higher in the short term. Investors should closely watch key resistance and support levels, as a breakout or breakdown could lead to a sharp movement in TON’s price.
