Toncoin Faces Lower Risk After Rejection at 21‑day SMA; $0.70 Possible if $1.20 Breaks
Toncoin (TON) has shown renewed downside pressure after intraday weakness, falling as low as $1.13 in earlier trading before briefly recovering toward $1.35. The token remains below key moving averages and has been repeatedly rejected at the 21‑day simple moving average (SMA), which, together with a 21‑day SMA below the 50‑day SMA on the daily chart, signals a bearish bias. Price action shows multiple Doji candlesticks and clustered bars, indicating short‑term indecision and limited upward momentum. Immediate support sits near $1.20; a decisive break below that level would open the door toward the October low around $0.70. Conversely, a sustained move back above the 21‑day SMA and other moving averages would be needed to restore bullish momentum. The report also cites higher technical zones (resistance $4.00–$5.00; support $2.50–$3.50) that appear inconsistent with current price levels and should be treated cautiously. This is market commentary and not trading advice.
Bearish
The combined reports point to a clearly bearish technical setup for TON. Key factors: repeated rejection at the 21‑day SMA, the 21‑day SMA positioned below the 50‑day SMA, and the formation of Doji candles that indicate indecision and weak upside conviction. Short‑term support around $1.20 is critical — a confirmed break would likely accelerate selling and expose a path back to the prior October low near $0.70. In the short term, traders should expect elevated downside risk and increased volatility around the $1.20 support; stop‑loss placement below that level would be prudent for long positions. In the medium to long term, a sustained recovery requires TON to reclaim and hold above the 21‑day SMA and higher moving averages; until that occurs, the trend remains biased lower. Note the outlying resistance/support zones at $2.50–$5.00 cited in one report are inconsistent with current price context and should not override the nearer‑term technical levels described above.