TONUSD Trends Bearish  With  Short-Term Bullish Recovery

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
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‎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.
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‎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.
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‎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.
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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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