‎TONUSD Faces a Bearish Structure Shift Amid Anticipated Short-Term Bullish Correction

‎TONUSD Market Analysis- October 16

‎TONUSD faces a critical turning point as a confirmed bearish break of structure signals a broader downtrend, while short-term momentum hints at a possible bullish correction.

‎TONUSD Key Levels

‎Support Levels: $1.6600, $0.5250
‎Resistance Levels: $2.7800, $4.1500

‎TONUSD Long-Term Trend: Bearish

‎TONCOIN recently experienced a decisive bearish break of structure as price fell below a previous major low. This structural breach marked a significant turning point, with price plunging through the key $1.6600 demand zone under heightened volatility.
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‎Although buyers attempted to regain control, pushing price upward and leaving a long wick behind, the daily candle eventually closed below the previous low — confirming the validity of the bearish break of structure. The daily moving average now positions price within the oversold region, hinting at a possible bullish correction in the near term.

‎This anticipated pullback is expected to target the daily bearish order block, where price may encounter fresh resistance before resuming its downward trajectory. However, with the daily Relative Strength Index (RSI) showing no clear bullish divergence yet, a minor continuation of the bearish movement may occur before any sustained recovery develops.

‎TONUSD Medium-Term Trend: Bullish

‎On the 4-hour timeframe, TONUSD recently formed a higher high, signaling a potential bullish structure in the medium term. Despite this, the bullish momentum appears to be weakening as sellers exert renewed pressure, leading to reduced upward volatility.
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‎Nevertheless, the overall bullish outlook on this timeframe remains valid, as no lower low has been established. The 4-hour RSI shows price exiting the oversold zone and moving toward the overbought region, supporting the likelihood of a continued short-term bullish advance. Price is therefore expected to push higher toward the daily bearish order block before facing potential resistance and resuming the broader downtrend.

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