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Toncoin (TON) Price Faces Increased Selling Momentum

Author: Content Editor
The price of Toncoin (TON) is currently under pressure, with technical indicators suggesting that it may be oversold. The Relative Strength Index (RSI) shows selling momentum has dominated, but there could be a potential rebound on the horizon. However, an increase in TON's supply on exchanges suggests that some holders may be preparing to sell, adding short-term pressure. The recent rise in TON's RSI indicates a potential price recovery, but historical patterns show that further downward pressure could occur before a strong recovery takes place. The addition of 30,000 TON on exchanges suggests some holders may be positioning themselves to sell in the near future. While this could lead to slight selling pressure, it's not a substantial volume that would drive significant price changes. The bearish setup on the TON EMA lines chart indicates a sustained downtrend, with sellers currently in control. The price could test support around $4.45, but if buying interest picks up, a potential rebound could occur, aiming to test resistance at $4.91.

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