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Cryptocurrency News Articles
TON Faces Renewed Selling Pressure as Price Takes Another Dip, Putting Recovery Efforts in Jeopardy
Oct 09, 2024 at 04:00 am
Despite previous attempts to regain bullish momentum, the cryptocurrency now struggles to hold its ground as it slips further below key support levels.
TON price analysis reveals a bearish trend with a potential for further declines. Despite previous attempts to regain bullish momentum, the cryptocurrency now struggles to hold its ground, slipping further below key support levels.
As TON price continues to be battered by bearish pressure,はこちらから for a deeper analysis of the recent price drop, support levels, and technical indicators, to assess the likelihood of a rebound or further declines, and gain insights into what could be next for TON and whether the bulls can regain control.
TON 4-Hour Chart - Price Analysis
4-Hour Chart of TON/USDT Price Analysis
TON has recently entered bearish territory on the 4-hour chart, dipping just below the 100-day Simple Moving Average (SMA) and approaching the crucial $4.6 support level. This drop below the 100-day SMA indicates weakening strength, and with sellers taking control, the cryptocurrency faces the potential for more losses.
An analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line has dropped to 40%, following a brief rise to the 50% threshold. This suggests that buying pressure is waning as the RSI moves deeper into bearish territory. Typically, an RSI reading below 50% implies that sellers are gaining control, which could lead to downward pressure on the price.
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