Market Overview for Toncoin/Tether (24-Hour Analysis)

Summary
• Price formed bearish engulfing patterns near 1.734–1.739, signaling potential short-term reversal.
• Volume spiked above average during 02:00–05:00 ET, coinciding with 1.712–1.719 support test.
• RSI entered oversold territory below 30, suggesting possible bounce near 1.715–1.717.
• Price remained within 1.712–1.741 range, with 1.727 acting as mid-range pivot.
• Bollinger Bands contracted during 21:00–23:00 ET, followed by a breakout attempt to the downside.

Toncoin/Tether (TONUSDT) opened at 1.724 on 2026-01-17 at 12:00 ET and closed at 1.717 on 2026-01-18 at 12:00 ET, with a high of 1.744 and low of 1.712. Total volume traded was 996,038.35, while turnover reached 1,700,599.79 USD.

Structure and Candlestick Patterns

The 24-hour chart showed a bearish bias, with a key bearish engulfing pattern forming near 1.734–1.739 during the early part of the session. Price later tested 1.712 as support, with a long lower shadow at 04:15 ET suggesting defensive buying. A doji at 03:45 ET indicated indecision amid a pullback, while a bullish engulfing pattern at 11:15–11:30 ET hinted at short-covering or buying interest.

Moving Averages and Fibonacci Levels

The 20-period and 50-period moving averages on the 5-min chart were trending lower, reinforcing the bearish bias. On the daily chart, the 50-period MA was near 1.730, aligning with a 61.8% Fibonacci retracement level of the recent 1.712–1.744 swing. Price remained below key resistance at 1.735 and above critical support at 1.723, with 1.727 acting as a pivot.

Momentum and Volatility Indicators

MACD showed bearish divergence with price during the 02:00–05:00 ET pullback, confirming the strength of the downward leg. RSI dropped below 30 toward 05:45 ET, suggesting oversold conditions and a potential bounce. Bollinger Bands experienced a contraction during 21:00–23:00 ET, followed by a break to the downside, indicating increased volatility and a probable continuation pattern.

Volume and Turnover Dynamics

Volume surged above average during the 1.712–1.719 support test, particularly between 02:00–05:00 ET, confirming bearish conviction. Notional turnover peaked at 02:00 ET with a candle at 1.720–1.724 that accounted for ~4.5% of the total 24-hour turnover. Price and volume aligned during the key breakdown phase, showing strong distribution pressure.

Forward-Looking Outlook

Price appears to be consolidating near the 1.715–1.717 level, with RSI in oversold territory suggesting a possible short-term bounce. However, without a convincing move above 1.727, bearish pressure may resume. A break below 1.712 could extend losses toward 1.708, but traders should watch for a rebound on a close above 1.723. As always, position sizing and stop-loss placement are critical amid volatile price swings.