Toncoin (TON) Price Prediction: Possible Rebound Soon?

Toncoin (TON) price appears to be under pressure, with recent technical indicators pointing toward a possible oversold stage.

Toncoin (TON) price appears to be facing some selling pressure, with recent technical indicators suggesting an oversold stage. The Relative Strength Index (RSI) shows signs that selling momentum has dominated, although a rebound could be on the horizon.

Meanwhile, a recent increase in TON’s supply on exchanges hints that some holders may be preparing to sell, adding potential short-term selling pressure.

RSI Indicates Oversold Levels

Currently, TON’s RSI is at 29.69, up slightly from recent lows of around 26 just a few days ago. These levels indicate that the coin is nearing oversold territory, suggesting that selling momentum has been strong.

RSI, or Relative Strength Index, measures the speed and change of price movements. Levels below 30 indicate oversold conditions, and levels above 70 indicate overbought conditions. An RSI below 30 can signal undervaluation, often hinting at a potential price rebound.

This recent rise in TON’s RSI could indicate that the price is preparing to recover. However, a rebound may not be immediate, as historical patterns show that TON’s RSI has dipped well below 30 – sometimes as low as 15 – before a reversal occurs.

This suggests that while oversold levels are present, further downward pressure is still possible before a strong recovery takes place.

Holders Sent 30,000 TON To Exchanges

According to recent data, users have transferred around 30,000 TON to exchanges over the last few days. When users send a coin to exchanges, it usually indicates a bearish outlook, as these transfers suggest they may be preparing to sell.

On the other hand, when coins are withdrawn from exchanges, it usually reflects a bullish sentiment, as users are more likely to hold and avoid selling.

The addition of 30,000 TON on exchanges suggests that some holders may be preparing to sell in the near future, although the amount is relatively small. This inflow could contribute to slight selling pressure, but it is not a substantial volume that would likely drive significant price changes on its own.

TON Price Prediction: Possible Rebound Soon?

The TON EMA lines chart showcases a bearish setup, with its price trading below all EMA lines and short-term lines positioned under the long-term ones, indicating a sustained downtrend. This alignment suggests that sellers are currently in control and the downtrend may continue.

If this pattern persists, TON price is likely to test support around the $4.45 level, where it could seek stabilization.

However, with the RSI suggesting that TON may be entering oversold territory, a potential rebound could be on the horizon. If buying interest picks up and TON reverses its downward trend, it could aim to test resistance at $4.91.

This scenario would depend on a shift in momentum, highlighting the current key levels TON may encounter.

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