Toncoin Faces Bearish Reversal as Failed High Emerges

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

‎TONUSD Market Analysis – August 22

‎Toncoin recent rally into the $3.6100 supply zone has set the stage for a potential bearish reversal, as technical signals point to renewed downside momentum.

‎TONUSD Key Levels

‎Support Levels: $2.8100, $2.3700
‎Resistance Levels: $3.1630, $3.6100

‎TONUSD Long-Term Trend: Bearish

‎TONCOIN’s recent price action reveals a shift in market structure after its recovery from the $2.3700 demand level. This support initially slowed the prevailing bearish momentum and fueled a strong bullish push that appeared to signal a potential long-term reversal. However, the rally quickly lost strength as bearish momentum reemerged.
‎
‎Price later found support at the $2.8100 demand zone, producing only a minor bullish reaction before sellers regained control. Despite several retests, buyers struggled to establish dominance above this level, highlighting sustained bearish pressure.
‎
‎Most recently, the market rallied into the $3.6100 supply zone, where a failed high pattern developed. This pattern, coupled with a declining Relative Strength Index (RSI) on the daily chart, strengthens the outlook for a bearish continuation. A decisive break below $2.8100 would likely confirm the next leg of downside movement.

‎TONUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, the early stages of this bearish reversal are more evident. The failed high formation led to a clear break of the bullish trend line, confirming bearish alignment across both the daily and 4-hour charts.
‎
‎Although the RSI on the 4-hour timeframe shows a temporary uptick suggesting short-term bullish momentum, this move is best viewed as a retracement. Price is anticipated to retest the broken trend line before resuming its bearish trend.

‎Make money without lifting your fingers: Start using a world-class auto trading solution

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.