TONUSD Market Analysis – December 5
TONCOIN price action reflects a developing bullish correction after a sustained bearish move, as buyers attempt to regain control from a key demand zone.
TONUSD Key Levels
Support Levels: $1.5450, $1.2600
Resistance Levels: $1.8480, $2.4000
TONUSD Long-Term Trend: Bearish
TONCOIN remains in a dominant bearish structure following a recent bearish break of structure. This pushed price downward toward the $1.5450 demand zone. Although sellers attempted a continuation breakdown, the level was only slightly breached and not decisively violated, indicating weakening bearish pressure.
The formation of a double bottom pattern around the $1.5450 region confirms the reduction in selling strength. It also highlights early signs of buyer accumulation. Price has since rebounded above the demand zone, while still trading below the daily Moving Average, suggesting a developing bullish correction.
The daily Relative Strength Index (RSI) shows strengthening momentum as price gradually recovers from oversold conditions. Despite this improvement, the broader bearish trend remains valid, with the current bullish move expected to target the daily order block before any potential bearish continuation.
TONUSD Medium-Term Trend: Bullish
On the 4-hour timeframe, TONUSD clearly displays a bullish structure. This is driven by the confirmed double bottom formation and the strong impulsive move that followed. This price reaction reflects growing buyer control after the prolonged higher timeframe selling pressure. This is reflected on the crypto signals.
The 4-hour RSI previously reached overbought conditions. This happened before entering the current corrective pullback phase. As long as price holds above the $1.5450 support level without a decisive close below it, the bullish continuation remains valid toward the daily order block.
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