- Toncoin defends $5.19 support, signaling potential accumulation and rebound.
- Open Interest rises, showing growing confidence in Toncoin’s recovery prospects.
- Strong support levels create buying opportunities despite short-term bearish trends.
Traders are watching Toncoin—TON, as the $5.19 support level holds strong. This critical zone represents a 50% retracement of the February-March rally. Although Toncoin has struggled to break out of the long-term range, signs of accumulation suggest a potential rebound. With mixed signals across timeframes, investors are weighing the risks and rewards. Is this the ideal moment to act?
Key Levels to Watch and What They Reveal
Analysts have highlighted a range between $4.91 and $6.88. Resistance at $5.92 lines up with a key retracement level. December’s rejection at $6.88 disappointed bulls, but the defense of lower levels has created opportunities. Short-term charts show a bearish trend with lower highs forming over six weeks.
The Relative Strength Index reading is below neutral, signaling persistent selling pressure. Despite this, the OBV has risen steadily since September, suggesting accumulation within the range. Traders eyeing entry points should focus on $5.19 and $4.88. These levels offer strong support and potential for a rebound.
Building Momentum Amid Market Volatility
Bullish sentiment appears to be gaining traction. Open Interest rose from $147 million to $156.48 million in days. Monday’s drop triggered long liquidations, but the quick recovery of both Toncoin and Bitcoin shows market strength. Support at $5.19 remains a key level to monitor.
Although volatility is expected, the longer-term trend hints at a possible recovery. Rising demand and strong defenses at critical zones may present a perfect buying opportunity. Traders should stay alert and observe price action closely in the coming days. The balance of accumulation and resilience could set the stage for Toncoin’s next big move.
