Market Overview for Toncoin/Tether (TONUSDT) on 2026-01-08

Summary
• Price formed a bullish engulfing pattern at 1.863 with clear support and resistance levels visible on the 5-minute chart.
• Momentum shifted positively in the final hours, with RSI showing a move toward neutral territory after a bearish phase.
• Volatility expanded near the 1.836–1.891 range, and volume spiked during the 17:00–19:00 ET window, confirming price action.

Toncoin/Tether (TONUSDT) opened at 1.905 on 2026-01-07 12:00 ET, hit a high of 1.912 and a low of 1.818, and closed at 1.869 on 2026-01-08 12:00 ET. Total 24-hour volume was 4.24 million units, and notional turnover reached $7.78 million.

Structure and Formations

A key bullish engulfing pattern emerged around the 1.863 support level on the 5-minute chart, indicating short-term reversal potential. Price action revealed several consolidation zones between 1.863 and 1.888, with a recent 61.8% Fibonacci retracement aligning with the 1.863 level as a critical psychological threshold.

Moving Averages and Momentum

The 50-period 5-minute moving average crossed above the 20-period line, suggesting a short-term bullish bias. RSI moved from bearish territory (below 30) to a neutral zone, indicating easing downward pressure. MACD showed a narrowing histogram and a positive crossover, suggesting a possible momentum shift.

Volatility and Volume Dynamics

Bollinger Bands displayed a modest expansion in the early hours of 2026-01-08, with price hovering near the lower band, indicating oversold conditions. The highest volume spike occurred between 17:00 and 19:00 ET, coinciding with a sharp decline to 1.863, offering confirmation of the level’s significance.

Forward-Looking View

Over the next 24 hours, Toncoin/Tether may test the 1.863 support and attempt a rebound toward the 1.88–1.89 resistance zone. A break above 1.88 could attract buyers, but traders should remain cautious of volatility and potential short-term profit-taking.