‎TONUSD Faces Continued Downtrend Amid Failed Bullish Reversals

TONUSD Market Analysis – May 8th

‎The price of TONUSD is currently entrenched in a persistent bearish trend, despite showing temporary signs of bullish reversal.‎

TONUSD Key Levels

‎Support Levels: $4.2000, $2.4000
‎Resistance Levels: $5.9000, $7.2000

TONUSD Long-Term Trend: Bearish

‎Earlier, TON had reached a peak resistance near the $7.2000 supply level. Although it briefly breached this level, the move failed to hold, leading to a significant bearish correction. This decline pushed price close to the $4.2000 level, where it attempted a bullish rebound. However, this upward move resulted in a major failed high—an early indication of bearish dominance.
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‎Following this failed high, the market structure broke to the downside, confirming a shift in sentiment and establishing a daily bearish bias. Price subsequently fell below the $4.2000 level and made its way back to the key $2.4000 support zone. Although a temporary bullish reaction occurred here, it was short-lived. The inability to reclaim the $4.2000 level led to the formation of a lower high, reinforcing the prevailing bearish trend.

TONUSD Medium-Term Trend : Bearish

‎TON continues to slide lower as it approaches liquidity pools below the current price structure, targeting the $2.4000 level. The 4-hour Moving Average clearly indicates crypto bearish signal, with price trading consistently below it.
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‎However, the 4-hour RSI suggests a slight buildup of bullish momentum, indicating a potential short-term rally. This is likely to activate a nearby order block above price, which may trigger a reactionary bearish move in alignment with the broader trend.
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‎If this bearish momentum regains control, a decisive breakdown below the $2.4000 demand zone is expected—further validating the long-term bearish outlook.

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