- TON price recently broke below the bullish trendline and the 50-day EMA.
- It is trading at $1.97 with a rise of 2.4% in the intraday session.
- The token is down by 66.82% from the all-time high.
Earlier, the TON coin price was moving on a bullish trendline. After making higher highs on the trendline, the price was rejected from the resistance level of $2.57 and got bearish. Recently, the price came down and broke below the trendline and the 50-day EMA. The token has recorded an ROI of 45.42% in the last 3 months.
It marked an all-time high on 12th Nov 2021, when the token was priced at $5.84.
The token is trading with a repulse of 23.96% in the trading volume in the last 24 hours.
The present market capitalization of $6.73 Billion. It has a current circulating supply of 3.43 Billion TONs, which is 67.99% of the total supply. The 24-hour trading volume of the token is $11.29 Million.
Sentiment Analysis
The total market volume of the token has decreased by 1.87% in a week. Total social engagements also dropped by 4.75% and the total bullish sentiments declined by 22.59%. Overall sentiments indicate a bearish movement. The volume has started to reduce and the social community is also inactive. It led to a drop in the bullish sentiments.
Technical Analysis of TON (Daily-1D)
The chart shows that the price has broken below the trendline and the 50-day EMA, which is a bearish sign. The volume of the token has also started to decline, which indicates that the token can start a downtrend.
If the price gets rejected from the 50-day EMA or the resistance level from $2.15, the price can start a bearish move. It can fall to the support level of $1.64. In the second scenario, the price can also get above the 50-day EMA. It can get rejected from the $2.15 resistance and get bearish.
However, If the price crosses above the 50-day EMA and the resistance of $2.15 and sustains above it, this breakout below the trendline will be considered a fake breakout. The price will continue its rising movement.
Indicators On The Price Of TON
Relative Strength Index (RSI)
The RSI line is presently moving at 46.22 points and the SMA 14 is moving at 46.61 points. Both are below the neutral level of 50. The RSI is soon going to give a bullish cross with SMA 14 which can be a bullish sign for the price.
Moving Average Convergence/Divergence (MACD)
The fast blue line moving average is moving above the red slow line moving average. The histogram shows significantly low volumes. The MACD indicates a bearish move in the price.
TON LIVE CHART
Conclusion
The current scenario of the TON price indicates that the price can get bearish. if the price does not get above the 50-day EMA and the volume does not increase then the token can get bearish. The volume has to be increased for an upward movement.
Technical Levels
- Support Level: $1.64 and $1.5
- Resistance Level: $1.98 and $2.15
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.