$TON
📊 [TA] TON Approaching Key Support Zone – Potential Reversal Setup
Toncoin (TON) is currently trading at $2.867 with a modest 0.39% gain today, but remains in a clear downtrend as it trades significantly below all major moving averages after extended selling pressure.
Key analysis:
• RSI indicators are approaching oversold territory with RSI(6) at 35.7, RSI(12) at 38.3, and RSI(24) at 41.3 – suggesting we might be nearing exhaustion in selling pressure
• Price is forming a potential bottoming pattern as it trades between the lower Bollinger Band ($2.425) and the 7-day MA ($2.893), creating a compression zone that often precedes volatility
• Strong support exists around $2.80, while major resistance sits at the 25-day MA at $3.39, with the 99-day MA at $3.87 indicating just how far this downtrend has extended
Trading plan:
👉 Entry: $2.85-2.90 (on RSI(6) breaking above 40 with increased volume)
👉 TP1: $3.10 (R:R = 1:1.5)
👉 TP2: $3.40 (R:R = 1:3.3)
👉 SL: $2.75 (below recent support)
This setup offers an asymmetric risk-reward opportunity for a counter-trend bounce, though traders should be cautious as the longer-term trend remains bearish. Watch for volume confirmation on any potential reversal, as low-volume bounces typically fail in strong downtrends.
