Toncoin Consolidates After Rally: Will It Break $3.54 or Drop Below $3.10?
- Toncoin is consolidating after a May rally, now at $3.29, with technical indicators showing a pause in bullish momentum.
- Support is at $3.21, near the lower Bollinger Band and 100-period SMA, while resistance is at $3.38 and $3.54.
- RSI is cooling at 47.64, signaling reduced buying pressure, while the MACD shows flattening momentum.
- Toncoin is in a tight range, with key levels at $3.54 and $3.10 to watch for the next move.
Toncoin (TON) is showing early signs of consolidation after a notable rally in early May. The cryptocurrency recently touched a high of $3.54 but has since retraced, now trading at around $3.29 as of May 13, 2025. Technical indicators suggest a pause in bullish momentum, raising questions about TONs next move.
Toncoin Holds Above Support
The 4-hour chart shows that Toncoin is currently trading near the midline of the Bollinger Bands, with support building around $3.21. This level aligns closely with the lower Bollinger Band and the 100-period simple moving average (SMA), suggesting it may act as a short-term floor.
On the upside, resistance remains strong near $3.38 and $3.54, the latter being a recent local high. A clean break above $3.54 could trigger renewed bullish interest and open the door to further gains. However, failure to hold above $3.21 could shift sentiment bearish, exposing the $3.10 level tied to the 200-period SMA.
The Relative Strength Index (RSI) has pulled back from overbought territory and now sits at 47.64. This decline suggests that buyers are cooling off after a strong run. Meanwhile, the RSIs moving average at 55.15 could present resistance on any short-term rebound attempts.
The Moving Average Convergence Divergence (MACD) shows the MACD line (0.0125) still holding above the signal line (0.0284), but the histogram is starting to flatten. This hints at waning momentum and a potential shift toward sideways price action unless a new catalyst emerges.
While Toncoin remains above both the 100 and 200-period SMAs, generally a bullish signal, short-term momentum has clearly stalled. Traders and investors should watch closely for a decisive move above $3.38 or a breakdown below $3.20 to gauge the markets direction.
Volume has tapered off compared to the early-May rally, which may limit volatility in the near term. A new surge in buying interest would likely need to be supported by positive fundamental news or a broader market uptrend.
Toncoin (TON) is currently trading in a tight range, holding above key technical support while momentum indicators suggest caution. A breakout above $3.54 could reignite the bullish trend, while a drop below $3.10 might lead to further correction. With price action tightening and indicators flashing mixed signals, Toncoin appears to be in a holding pattern.
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Read more: https://www.tronweekly.com/toncoin-consolidates-after-rally-will-it-break-3-54-or-drop-below-3-10/
Text source: TronWeekly
