• Toncoin’s price increases by 1.04%, yet trading volume declines by 15.21%, indicating a bearish market sentiment.
• If Toncoin maintains its current levels, it may reach $3.89 or $4.43 based on Fibonacci retracement.
• RSI at 45.53 and a shrinking MACD indicate weak momentum, signaling a cautious market outlook.

Toncoin (TON) is currently trading at $3.24 with a slight increase of 1.04% over the past day. Although this slight increase is happening, the trading volume is falling 15.21%, which implies a bearish tone in the market. The current trading volume is $207.5 million, indicating a decrease in investor activity.

Source: CoinMarketCap

Over the last week, the price of TON decreased by 5.44%, which is opposed to the general trend in the market. This is a sign of possible caution of traders as the coin is still faced with the pressure of going down. The current trading volumes and price behavior indicate a slow market view on Toncoin.

Toncoin Future Price Ranges and Market Sentiment

Crypto analyst CryptoPulse mentioned key price points of future Toncoin movement. In case the coin can hold its current price, it may even achieve a price of $3.89 and $4.43, facing Fibonacci retracement. These levels are considered essential in determining the market’s future trajectory.

However, if token does not retain its present position, then there might be a fall in the coin price to $2.80. This decline would bring a major change in the market mood. The traders are keeping an eye on the levels to determine whether Toncoin would continue to record positive progress or continue suffering setbacks.

Source: X

Also Read: XRP’s Bullish Spike: Can It Break $3.30 Resistance or Face a Downturn?

Market Faces Uncertainty with Shrinking MACD and Neutral RSI

Toncoin has a weak momentum, with an RSI of 45.53. It implies that there is no certain direction in the market. A fall below 40 might indicate more falls, and an increase to over 50 may indicate recovery.

The MACD is at 0.053, above the signal line at 0.022, showing a light bullish momentum. Nonetheless, the contracting histogram indicates decreasing upward power. A bearish reverse may be indicated by a crossover under the signal line.

Source: TradingView

Trading Activity Slows as Volume and Open Interest Drop

According to CoinGlass data, the volume has decreased by 19.04 percent, currently totaling $201.74 million. This steep decline indicates a reduction in trading activity. This reduced volume is an indication of less investor participation.

Additionally, open interest has decreased by 0.45%, currently totaling $296.90 million. The OI-Weighted Funding Rate is 0.0050%. This is an indication that market mood is still conservative, fewer positions are opened.

Source: CoinGlass

The Toncoin market is unpredictable because the RSI and MACD indicators show conflicting signs. Although it seems to have shot up slightly in price, the general trend is to be cautious. Investors are advised to closely monitor any critical levels in order to verify whether there is a rebound or additional negative consequences.

Also Read: AERO’s 3.68% Fall: Critical Price Levels for 15.72% Growth