$TON

Toncoin (TONUSD) moves along a downward corrective trend line - Analysis - 08-10-2024 $TON

The price of Toncoin (TONUSD) stabilized at a decline during its recent trading at the moment levels, in light of the dominance of the downward corrective trend in the short term and its trading along a trend line, with the continuation of negative pressure due to its trading below its simple moving average for the previous 50-day period, but what helped the price to hold together a little was the beginning of the appearance of a positive intersection with the relative strength indicators, after reaching areas of severe saturation with selling operations, so that the price tries to drain some of this selling saturation.

Therefore, our expectations indicate a decline in the price of the currency during its upcoming trading, as long as the resistance level 6.00 remains stable, targeting the pivotal support level 4.60.

The expected direction for upcoming trading: Downward