Toncoin Market Analysis- November 28
TONUSD has maintained a dominant bearish market structure despite temporary bullish recoveries, with current price action revealing a corrective upswing within a broader downward trend.
TONUSD Key Levels
Support Levels: $1.4600, $1.0800
Resistance Levels: $1.8200, $2.3800
TONUSD Long-Term Trend: Bearish
TONCOIN maintains its broader bearish structure as price initiates another downward wave. After breaking below the $2.3800 supply zone, price extended its decline, followed by a more controlled retracement compared to the initial sharp sell-off.
A further breakdown beneath the $1.8200 level confirmed a fresh bearish break of structure, reinforcing downside momentum. Price later tapped into the $1.4600 demand zone, triggering a bullish reaction. However, this upward movement appears corrective and is likely a retracement within the overall bearish trend rather than a full reversal.
Daily RSI readings reflect rising momentum from oversold conditions, signaling room for continued retracement. A deeper pullback into the daily order block remains probable before the dominant bearish trend potentially resumes.
TONUSD Medium-Term Trend: Bullish
The 4H timeframe reveals a shift in sentiment as price begins forming higher highs and higher lows, indicating a medium-term bullish phase. The 4-hour moving average also confirms this momentum, with price trading comfortably above the indicator.
However, the current push shows signs of exhaustion as the RSI sits in the overbought region. This suggests an incoming short-term pullback into nearby bullish order blocks, which may provide discount entries before the price continues its upward correction.
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