Market Overview for Toncoin/Tether (TONUSDT) – 2025-10-24

• Toncoin/Tether (TONUSDT) opened at 2.124 and traded in a 2.111–2.156 range before closing at 2.143.
• Price found support near 2.12 and tested resistance at 2.14–2.15, forming mixed bullish and bearish signals.
• Volatility expanded mid-day, with volume spiking at key levels before tapering in the late session.
• RSI indicated overbought conditions at the top of the range and oversold near 2.12, suggesting balanced momentum.
• Turnover was heaviest during a mid-morning breakout and late-night consolidation, hinting at strategic positioning.

The 24-hour session for TONUSDT began at 2.124 and ended at 2.143, reaching an intraday high of 2.156 and a low of 2.111. Total volume amounted to 3,976,055.12, with a notional turnover of 8,471,566.78 USD. Price action reflected a tug-of-war between bulls and bears, with a mid-morning rally and late-night pullback reinforcing key levels.

Structure & Formations

Price encountered immediate resistance at 2.14–2.15, where several 15-minute candles showed bearish reversal signs, including a potential dark cloud cover and hanging man formations. A bullish engulfing pattern formed near 2.124, suggesting buyers regained control after a short-term decline. However, the pattern was later invalidated by a test of support at 2.126–2.127, where volume and price aligned to confirm a new base. The 2.12–2.125 zone appears to have become a critical support cluster, with price consolidating around it in the final hours.

Support & Resistance

Key support levels are located at 2.12, 2.125, and 2.111, with the latter acting as a floor during the session’s low. Resistance levels are concentrated at 2.13–2.135, and the 2.14–2.15 band, which repeatedly held the price in check. A successful breakout above 2.156 could target 2.17–2.18, based on Fibonacci extensions from the intraday swing.

Moving Averages & Momentum

On the 15-minute chart, the 20-period and 50-period moving averages crossed multiple times, indicating choppy momentum. Price spent most of the session below the 50-period MA, but closed above it, suggesting a possible short-term reversal. On the daily chart, the 50-period MA sits at 2.132, with the 200-period at 2.119, hinting at a bullish bias if the price continues to hold above these.

MACD & RSI

MACD showed a divergent signal during the late-night consolidation, with the histogram narrowing despite price moving sideways. RSI fluctuated between overbought and oversold levels, suggesting an environment of high volatility and no clear directional bias. However, the RSI’s bounce from oversold territory at the end of the session may imply renewed buyer interest.

Bollinger Bands & Volatility

Price moved within a relatively tight Bollinger Band range for most of the session, but volatility expanded during the morning rally. A sharp move to 2.156 pushed the price to the upper band, followed by a retest and consolidation near the mid-band. In the final hours, volatility contracted again, with price sitting just above the lower band, suggesting a possible near-term reversal.

Volume & Turnover

Volume spiked during the morning breakout, with a large candle reaching 2.156 on high turnover, indicating aggressive buying. A second volume spike occurred at the close, with a candle forming around 2.143, reinforcing the current support level. Notional turnover aligned with price peaks, with the most significant activity occurring during the 0445–0500 and 1400–1500 ET windows.

Fibonacci Retracements

Applying Fibonacci levels to the intraday 2.111–2.156 swing, the 38.2% (2.136) and 61.8% (2.144) levels aligned closely with the price’s consolidation area. This suggests that the 2.144 level may hold significance as a potential turning point. On the daily chart, retracement levels suggest a potential move to 2.16–2.18 if the current trend continues.

Backtest Hypothesis

Given the mixed but bullish signals observed near the 2.124 level, a backtesting strategy focused on Bullish Engulfing patterns could be valuable. If the exact symbol or source is confirmed, this pattern could be used to generate a backtest that measures its effectiveness over the past 24 hours. A successful test could justify a short-term long position, particularly if volume and RSI align with the pattern.