TONUSD Market Analysis- August 1
Toncoin (TON) encounters resistance at the $3.60 level as price remains trapped within a consolidation range, reflecting the broader bearish market structure.
TONUSD Key Levels
Support Levels: $2.9000, $2.3500
Resistance Levels: $3.6000, $4.2000
TONUSD Long-Term Trend: Bearish
TON has been trading within a broader bearish trend since the beginning of 2025, marked by a significant decline that pushed price below the $4.2000 level. This downtrend continued until March 2025, when TON found support at the $2.3500 demand zone. From this level, a major pullback followed, retracing price back to the $4.2000 supply area.
As the bearish trend resumed, price struggled to break below the $2.9000 support zone, which led to a notable bullish rejection. This rejection evolved into a consolidation phase, with price ranging between the $3.6000 resistance and $2.9000 support levels.
The most recent bearish leg swept liquidity before initiating the current bullish move toward the $3.6000 resistance. However, the daily Relative Strength Index (RSI) now signals overbought conditions, indicating potential resistance at this level. As such, the ongoing consolidation between $3.6000 and $2.9000 is likely to persist in the near term.
TONUSD Medium-Term Trend: Bullish
In the medium term, TON is exhibiting a short-term bullish structure, supported by a trendline that originated from the $2.9000 level. The 4-hour RSI currently shows overbought conditions, aligning with price reaching the $3.6000 resistance level—suggesting that a bearish reaction may be imminent.
A short-term decline toward the trendline support is anticipated, with a likely breach of this support indicating the exhaustion of the bullish leg. Price is then expected to revisit the $2.9000 level, keeping the broader consolidation range intact.
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