24-Hour Price Analysis: Toncoin Market Struggles to Break Key Resistance Despite Testing $4.90–Will Bears Prevail?

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Toncoin (TON) has had a challenging 24-hour period, struggling to break above key resistance levels. Despite short-lived bullish attempts, TON remains under bearish control. This analysis shares insight into the cryptocurrency’s recent performance, highlighting critical indicators and possible future scenarios.

Exponential Moving Averages (EMA) Analysis

Toncoin is currently trading at $4.76, slightly below the 20-period EMA, which closes at $4.78. The 50-period EMA, which closes at $4.77, and the 100-period EMA, which closes at $4.87, act as additional resistance levels. The downward-sloping EMAs indicate that the overall trend remains bearish, with each EMA serving as a potential ceiling for price recoveries.

The 200-period EMA, positioned at $5.10, represents a long-term resistance level that would require significant bullish momentum to break. However, TON’s current struggle to sustain gains above shorter-term EMAs suggests that a retest of the 200 EMA might be difficult in the near term.

Average Sentiment Oscillator (ASO) Momentum Insights

The Average Sentiment Oscillator reflects the ongoing battle between bulls and bears. The indicator currently shows mixed signals, with the blue line at 60.89 and the red line at 39.10. Despite recent bullish crossover attempts, the bearish trend appears dominant, as evidenced by the price action.

The ASO’s bullish divergence hints at potential upward momentum, which has not yet translated into significant price gains. Sellers are defending the resistance levels, preventing TON from making a decisive move upward.

Toncoin’s Short-Term Outlook

Looking ahead, Toncoin could continue to face downward pressure if it fails to break above the 20 and 50 EMAs convincingly. A sustained move below $4.70 would likely see TON test the $4.60 support level, possibly leading to further declines.

However, if TON gains strength and pushes above $4.80, the next target would be the $4.90 to $5.00 zone. A breakout above $5.10 (200 EMA) would be a strong bullish signal, but this scenario currently seems less probable.

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Final Thoughts

Toncoin’s recent performance suggests that bears remain in control despite brief, bullish attempts. The EMAs and Average Sentiment Oscillator paint a cautious picture, with the market struggling to gain upward momentum. Investors should closely monitor the key resistance and support levels, as they will determine TON’s price direction shortly.