TON/USDT is experiencing a bearish trend, currently priced at $4.802, down 0.17%. Despite being the top trending coin, the most searched coin in the last 6 hours, and the hottest coin on Binance, it is showing signs of struggle in the market. The price remains below important resistance levels, indicating a difficult recovery ahead.
The 7-day SMA sits at $4.993, just above the current price, acting as a short-term resistance, while the 25-day SMA at $5.863 shows the bearish momentum in the medium term. Additionally, the 99-day SMA above $6.000 reflects a long-term downtrend, further reinforcing the negative market sentiment.
The trading volume is 4.393M, highlighting active market participation but without a significant recovery in price. The RSI (Relative Strength Index) is at 35.70, indicating that the asset is approaching oversold conditions but not yet at critical buy levels.
Traders are watching closely for potential reversals, as the RSI nears oversold, which could signal future opportunities for buyers. Until then, the market remains cautious despite TON's current popularity.
