TONCOIN Maintains Bearish Momentum Amid Double Top Formation

‎TONUSD Market Analysis- September 4

‎TONCOIN continues to face downward pressure as the market structure points toward sustained bearish momentum, with critical demand levels now coming into play.

TONUSD Key Levels

‎Support Levels: $2.6000, $2.2000
‎Resistance Levels: $3.4000, $4.3000

‎TONUSD Long-Term Trend: Bearish

‎TONCOIN resumes its bearish trajectory as price action begins to establish a fresh bearish structure, approaching the $2.6000 demand level. The broader bearish trend initially emerged in early 2025, with an aggressive decline that lasted until March before easing into a sideways consolidation phase.
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‎The recent formation of a double top pattern signaled the end of that sideways movement, leading to a structural shift that strengthened bearish prospects. The daily Moving Average supports this outlook, as price action continues to trade below the indicator.
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‎With the daily Relative Strength Index (RSI) falling sharply, the likelihood of a deeper decline has increased. TONCOIN is expected to breach the $2.6000 demand level, opening the path toward the $2.2000 demand zone.

‎TONUSD Medium-Term Trend: Bearish

‎On the 4-hour chart, price action displays a clear sequence of lower lows, further confirming the prevailing bearish structure. A daily order block remains in focus and is likely to be triggered to fuel a stronger continuation of the bearish trend.
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‎Currently, the market is in the midst of a bearish leg, consistent with declining momentum shown by the 4-hour RSI. Once the RSI approaches oversold territory, a temporary bullish rebound is likely, potentially tapping into the order block before the bearish trend resumes in full force.

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