CandleFocus

Rising Exchange Supply Adds Pressure to Toncoin (TON) Price

Author: Content Editor
Summary: The price of TONcoin has been in a critical phase, dropping 12% in the last 30 days. The Relative Strength Index (RSI) has moved into a neutral zone, indicating uncertainty among traders about its future direction. Additionally, an increase in supply on exchanges suggests potential selling pressure. The EMA lines show a bearish configuration, but narrowing gaps between them hint at a possible shift in momentum. The RSI drop indicates a decrease in buying pressure and a possible strengthening of bearish sentiment. The increase in TON supply on exchanges may imply a bearish outlook. However, the decreasing distance between EMA lines suggests weakening bearish momentum. The price faces immediate support at $4.56, and if this level fails, it could drop as low as $4.44. On the other hand, if the market reverses, TON may challenge resistance levels at $5.40 and $5.80, potentially surging towards $6.13.

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