Toncoin (TON) Price Exits Oversold, Builds Strength for New Rally | Airdrop Alert Pro

Toncoin (TON) price is up more than 7% in the past 24 hours, showing signs of recovery as the market cap approaches $16 billion. After hitting oversold levels relative strength index TON, which was as low as 18, has rebounded to 47, indicating the potential for continued growth.

Additionally, TON’s supply on exchanges decreased to 1.85 million from 1.91 million on the last day, indicating that selling pressure has eased. While the EMA line recently formed a death cross, short-term indicators suggest that a reversal could occur if momentum continues, allowing TON to test key resistance levels near and above $6.3.

TON RSI recovers from oversold territory

East Coin The relative strength index (RSI) has recovered significantly and is currently at 47 after falling to 18 between December 9 and 10. The move signals a recovery from extreme oversold conditions, which often precede price rebounds.

Ton price It is up more than 7% in the past 24 hours, reflecting renewed buying interest as the RSI approaches the neutral zone. This upward momentum suggests that TON’s price may continue to rise if buying pressure persists.

RSI is a momentum oscillator that ranges from 0 to 100 and measures the speed and magnitude of price movements. Readings below 30 indicate oversold conditions and the possibility of a reversal, while readings above 70 indicate overbought conditions and the possibility of a pullback.

TON’s RSI is currently at 47, which puts it out of oversold territory and closer to neutral territory. This level suggests that the current rally may have more room to grow, as TON still has room to go before reaching overbought levels.

Toncoin supply on exchange reduced to 1.85 million

East Coin Supply on the exchange has been steadily increasing since December 3, when it stood at 1.71 million and currently stands at 1.85 million. This trend shows that selling pressure is increasing as more coins enter exchanges, which is usually a bearish sign that holders may be preparing to sell.

However, over the past 24 hours, TON’s supply on exchanges has decreased from 1.91 million to 1.85 million, indicating a possible shift in market sentiment. This drop may indicate that users are withdrawing tokens from the exchange, possibly to hold or stake for the long term.

Movements in token supply on and off exchanges are a key indicator of market sentiment. Increases in supply on exchanges often precede selling activity, putting downward pressure on prices. Conversely, a drop in exchange supply suggests users are moving coins to private wallets, which can reduce immediate selling pressure and support bullish momentum.

Although there has been a recent decline TON supply on exchanges The outlook is bright, and it will be necessary to monitor whether this trend continues, as continued declines may indicate greater confidence in the token’s price recovery.

TON Price Prediction: Can it break through $7 again in December?

East Coin The exponential moving average (EMA) line formed a death cross yesterday, with the short-term EMA crossing below the long-term EMA, signaling a bearish trend.

Nonetheless, TON’s price has since shown signs of recovery, with the short-term EMA starting to turn upward. This suggests that while there is a bearish signal, the possibility of a reversal remains if momentum continues to build, making Toncoin a The best altcoins to invest in in December.

If the downtrend continues, Ton price A test of support at $5.68 is possible. A break below this level could lead to further declines, with a possible target of $5.19. However, as the RSI shows, there is still room for growth.

TON could use this recovery to challenge the $6.3 resistance. If there is a successful move above this level, further targets include $6.6 and $6.99, the latter of which has acted as a strong barrier in recent days.