Toncoin price prediction – Traders, look out for this buying opportunity!

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  • Toncoin seemed to have a bearish market structure on the daily timeframe
  • The 50% retracement level has been defended stoutly and the rising OBV gave a buy signal

During the last month, Toncoin [TON] supporters successfully held its price above the $5.19 mark, which represents a key support point. This significant level corresponds to the 50% retracement of Toncoin’s price surge in February and March of 2024. Remarkably, it witnessed a staggering 58.4% growth in November when Bitcoin [BTC] experienced a massive spike from $70k to $99k.

Despite its power, it wasn’t enough to push through the established long-term trading range. With the price hovering close to its lower range, investors might find themselves questioning if there are indications of a bullish trend or if it would be wise to offload TON and explore other investment opportunities instead.

Toncoin – Accumulation or distribution?

Upon analyzing the weekly price trends, AMBCrypto identified a range between $4.91 and $6.88 (indicated in purple). The middle of this range aligns with the 38.2% retracement level at $5.92, indicating a potential intermediate resistance point.

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In December, when Bitcoin bulls ran out of steam and couldn’t push beyond $108,000, the price of TON encountered resistance at this six-month peak. The inability to break through was disheartening. Yet, holding firm at the lower levels provided a chance for potential buyers.

As an analyst, I observed a bearish market structure in the daily chart over the course of the past six weeks for TON. The price action has been characterized by a succession of lower highs, which is typically indicative of a downtrend. Additionally, the Daily Relative Strength Index (RSI) remained below the neutral 50 level, suggesting that the momentum has predominantly been bearish.

Those who are confident about the asset might consider purchasing more TON at around $5.19 and $4.88. The upward trend suggests a potential recovery, as the On-Balance Volume (OBV) has been climbing since September. This increase indicates that there’s ongoing accumulation within the six-month price range.

On Monday, 13th of January, the market showed a hint of optimism with an Open Interest of $147 million. As we speak, this figure has increased to approximately $156.48 million, indicating a strengthening bullish sentiment.

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Read Toncoin’s [TON] Price Prediction 2025-26

On Monday’s dip, numerous long positions were liquidated. However, Bitcoin and Toncoin swiftly regained their footing, suggesting a robust market. This bullish sentiment persists for the longer term, though in the near future, volatility may increase. Nonetheless, it is anticipated that the $5.19 level will hold firm.

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2025-01-15 17:11