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Market Analysis- April 18
TONUSD has sustained a prolonged bearish trajectory, with price action gradually descending toward the $2.3000 supply level. The downward move was initially triggered from the $7.5000 zone, which marked a significant high and served as a pivot for the broader trend reversal.
TONUSD Key Levels
Support Levels: $3.8000, $2.3000
Resistance Levels: $5.4000, $7.5000
TONUSD Long-Term Outlook: Bearish (Daily Chart)
Following an initial breakdown below the $5.4000 supply level, the market attempted a minor bullish recovery, briefly reclaiming the $5.4000 zone. However, this recovery was short-lived, culminating in the formation of a double-top pattern — a classic bearish reversal crypto signal. This pattern confirmed the end of bullish momentum and set the stage for a renewed downward push.
After breaching the $5.4000 level once more, TONUSD resumed its bearish trend, respecting a clearly defined descending trendline. Recently price action has completed a corrective bullish retracement toward this trendline resistance, which was met with renewed selling pressure. While the current decline is slower than previous bearish swings, the broader sentiment remains Bearish.
Technical indicators continue to support this bearish outlook. The daily Moving Average maintains a downward slope, reinforcing the trend, while the Relative Strength Index (RSI) on the daily chart approaches oversold territory — a signal that further downside may be limited in the short term but still likely before any significant reversal.
TONUSD Medium-Term Outlook: Bearish (4-hours Chart)
On the 4-hour timeframe, TONUSD continues to trade below the trend resistance, indicating that bearish control is still intact. While the RSI on this timeframe is gradually climbing, suggesting growing bullish attempts, price remains in a consolidation zone as sellers counteract upward pressure.
This consolidation phase is expected to persist as long as the RSI trends higher. However, if the RSI enters the overbought zone, it could trigger a renewed and sharp bearish move. it is advised watch for a decisive rejection at resistance or overbought RSI conditions to confirm the next leg lower.
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