Toncoin Technical Indicators Point to Potential Downside

#Toncoin has recently experienced a gradual decline in momentum on the 4-hour chart, with closing prices fluctuating in a tight range between $5.42 and $5.49. The price action suggests indecision among traders, as Toncoin struggles to break above key resistance levels while maintaining a fragile hold on its support zones. A deeper dive into the technical indicators on the 4-hour chart reveals a more bearish outlook, hinting at potential downside movements in the coming sessions.

Looking at the exponential moving averages (EMAs), the 9-period EMA has consistently trended below the 20-period EMA over the last few sessions. This is a classic bearish signal, suggesting that the short-term trend may be losing steam. With prices failing to close above the 9 EMA, currently around $5.50, this further solidifies the notion that bears may continue to dominate the market unless Toncoin can gather sufficient upward momentum.

The Moving Average Convergence Divergence (MACD) indicator paints a similar picture of weakening momentum. The MACD line has crossed below the signal line, generating a series of negative histograms. This indicates that selling pressure is intensifying, and the bulls are struggling to regain control. Although the MACD histogram is decreasing, it still points to a bearish bias, meaning a continued downward trajectory could be on the horizon.

From a levels perspective, Toncoin faces immediate resistance at $5.529 and $5.562. If the bulls manage to push prices higher, breaking through $5.562 would shift market sentiment in favor of a potential bullish reversal, with the next target being the $5.608 level. On the downside, support can be found at $5.373, with a more significant level at $5.279. A break below $5.279 would likely accelerate the selloff, driving prices closer to the $5.265 mark—a critical support level that could determine whether further bearish momentum unfolds. $TON #TON #TrendingInvestments Read more on www.ecoinimist.com.