Summary
• Price declined from 1.768 to 1.751 amid bearish 5-minute structures and volume expansion.
• Key support at 1.74–1.744 held, with RSI indicating moderate oversold conditions.
• Bollinger Bands widened, signaling increased volatility and potential consolidation.
• Volume surged to over 222k at 02:15 ET, confirming bearish momentum.
• Fibonacci 61.8% level near 1.745 may act as a near-term support.
Toncoin/Tether (TONUSDT) opened at 1.767 at 12:00 ET-1 and closed at 1.751 at 12:00 ET, with a high of 1.768 and a low of 1.731. Total volume reached 1,914,539.69, and notional turnover was 3,262,409.80.
Structure & Formations
Price action on the 5-minute chart showed a bearish breakdown from 1.768, with a large engulfing bearish candle at 18:15 ET signaling increased selling pressure. Key support was reaffirmed at 1.74–1.744, which appears to be acting as a short-term floor. A doji formed near 1.74, suggesting indecision and potential consolidation ahead.
Moving Averages
Short-term moving averages (20/50) on the 5-minute chart crossed bearishly, reinforcing the downward trend. Daily moving averages (50/100/200) appear to be in a neutral to slightly bullish setup, indicating a possible divergence between short- and long-term momentum.
MACD & RSI
The RSI dipped below 30 at multiple points, suggesting mild oversold conditions, though not extreme. The MACD remained bearish with negative divergence, confirming the recent sell-off. Momentum is expected to remain cautious unless a reversal candle forms above 1.755.
Bollinger Bands
Volatility expanded throughout the session, with the bands widening significantly around 02:00–03:00 ET. Price currently sits near the lower band at 1.74–1.744, indicating a possible short-term bounce or consolidation phase.
Volume & Turnover
Volume spiked sharply at 02:15 ET and again around 16:45 ET, confirming bearish continuation. Turnover aligned with the price decline, showing no signs of divergence. The largest single 5-minute volume bar recorded 222,591.54, further validating the bearish move.
Fibonacci Retracements
Fibonacci retracements drawn from the 1.768 high to 1.731 low show the 61.8% level at ~1.745. Price currently appears to be consolidating around this level, and a break below it could signal a test of the 1.737–1.734 area.
Looking ahead, traders may watch for a potential bounce off the 1.744–1.745 level or a breakdown below that range. A strong reversal candle or a move above 1.755 could signal a short-term rebound, though bearish momentum remains strong. Investors should remain cautious as volatility remains elevated and key support zones are under test.
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