TON (The Open Network) coin is a cryptocurrency originally developed by the Telegram team but later transferred to the community. TON is now managed by the TON Foundation. It is a high-bandwidth, low-transaction-cost blockchain platform that supports decentralized applications (dApps) and smart contracts.
Based on the provided schedule:
1. General situation:
• The price at the time of the screenshot is 5.913 USDT.
• The price fell by 10.31% within 24 hours.
• Daily trading volume: 19.92 million TON, equivalent to 118.61 million USDT.
2. Technical indicators:
• The EMA moving averages (7, 25, 99) are showing a decline, indicating a current bearish trend.
• RSI (relative strength index) on different periods:
• RSI(6) = 28.59: in the oversold zone, signaling a possible upward rebound.
• RSI(12) and RSI(24) are also below 50, which confirms the weakness of buyers.
• MACD shows negative values (DIF = 0.214, MACD = -0.110), indicating a downward momentum.
3. Support and resistance:
• Support level: around 5,300 USDT.
• Resistance level: the nearest one is at 6.345 USDT (according to EMA(7)).
Recommendations:
• Short-term action: Given the oversold RSI, a technical rebound can be expected. However, for a confident buy, it is better to wait for confirmation of a trend reversal.
• Long-term actions: If you believe in the project’s prospects, the current corrections can be good entry points. However, keep an eye on TON’s fundamental news.