‎TONUSD Maintains Bearish Outlook as Consolidation Nears Breakdown

‎TONUSD Market Analysis- July 24

‎TONUSD remains in a prolonged consolidation phase, with technical signals pointing toward a potential bearish continuation and a breakdown below the key $2.5000 support level.

‎TONUSD Key Levels

‎Support Levels: $3.9000, $2.5000
‎Resistance Levels: $4.8000, $5.8000

‎TONUSD Long-Term Trend: Bearish

‎TONUSD continues to hold a bearish structure following the breakdown below the $5.8000 level in late December 2024. The initial decline was sharp and sustained, driving price down through the $3.9000 support and into the $2.5000 demand zone.
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‎Although the $2.5000 level prompted a temporary bullish reaction, this move proved corrective rather than a true reversal. Rather than breaching the $2.5000 zone, price entered a prolonged consolidation phase that has persisted from April 2025 to the present.
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‎Now, the daily Relative Strength Index (RSI) is showing overbought conditions within this range, which signals potential for a renewed bearish move. The RSI contextually suggests a likely breakdown below the $2.5000 support level, reinforcing the dominant bearish trend.

TONUSD Medium-Term Trend: Bearish

‎On the 4-hour chart, TONUSD has shifted into a bearish structure at the peak of its consolidation. This shift is further validated by a weakening RSI and the price trading below its Moving Average.
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‎Momentum indicators now align with bearish expectations, and price is gradually moving toward the lower boundary of the consolidation zone. A breakdown below this level could trigger a continuation of the prevailing downtrend.

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