Toncoin (TONUSD) is suffering from negative pressures - Analysis - 12-31-2024

The price of Toncoin (TONUSD) has decreased during its recent trading at the moment levels, amid the dominance of the main bearish trend in the medium term and its trading along a trend line, with the continuation of negative pressure due to its trading below its simple moving average for the previous 50-day period, in addition to that, we notice the beginning of the emergence of negative signals in the relative strength indicators, after reaching areas of severe saturation with buying operations.

Therefore, our expectations indicate a further decline in the price of the currency during its upcoming trading, as long as the resistance level of $6.0900 remains stable, targeting the pivotal support level of $4.7733.

The expected direction for the upcoming trading: Downward $TON