Market Overview for Toncoin/Tether (TONUSDT) — 2026-01-17

Summary
• Price formed bullish engulfing patterns during late-night ET rebound.
• RSI shows overbought conditions around 75, suggesting potential pullback.
• Volume surged near key resistance levels, confirming bullish momentum.
• Bollinger Bands narrow at 1.703–1.706, hinting at an imminent breakout.
• Fibonacci 61.8% level aligns with 1.712–1.714 as critical support/resistance.

Toncoin/Tether (TONUSDT) opened at 1.697 on 2026-01-16 at 12:00 ET and closed at 1.711 on 2026-01-17 at 12:00 ET, with a high of 1.73 and low of 1.691 over the 24-hour period. Total volume was approximately 1,786,405.05, with a notional turnover of $3,131,596.05.

Structure & Formations

Price action on the 5-minute chart displayed several key bullish signals, including a notable bullish engulfing pattern at 1.707–1.711 during the early ET hours. A bearish pinocchio candle formed at 1.725–1.721 around midday ET, suggesting potential near-term exhaustion in the upward move. The 50-period moving average on the 5-minute chart crossed above the 20-period, reinforcing short-term bullish momentum.

Volatility and Momentum

Bollinger Bands constricted sharply in the late night, with the pair trading within a narrow 1.703–1.706 range before breaking out. MACD showed a positive crossover in early ET hours, with histogram bars expanding through the morning, supporting the bullish bias. RSI reached overbought territory (75–80) during the midday rally, suggesting caution ahead.

Volume and Turnover

Volume spiked at key resistance levels (1.710–1.715), particularly in the early ET session, with the highest single-candle turnover occurring at 1.721–1.720 (676968.08 volume). Turnover confirmed the breakout above the 1.710 level, but diverged slightly from price in the late afternoon, suggesting potential exhaustion.

Key Levels and Fibonacci

The 20-period MA on the 5-minute chart currently sits at ~1.714, acting as a dynamic support. On the daily chart, the 50-period MA is at ~1.708, providing a key psychological reference. Fibonacci retracement levels from the 1.691–1.730 swing show 61.8% at 1.712–1.714, a level that has held multiple times and may trigger a pullback if breached.

Looking ahead, TONUSDT appears to be consolidating above key support at 1.710–1.713. A break above 1.725 could see a test of the 1.730–1.735 range, but overbought RSI and diverging volume raise caution for a potential correction. Investors should monitor the 1.710–1.714 zone closely for signs of exhaustion or continuation.