Toncoin price is garnering attention again as traders watch familiar resistance levels that may dictate the next move.
Price Trend and Resistance Levels
On the 4-hour chart, a clear descending trendline continues to cap the TON price. Currently trading around $2.80, focus is on the $2.90–$2.96 range where a possible rejection could lead to a larger drop.
Price Analysis: Support and Bearish Trend
Recent price action found support around $2.78, giving a small bounce. However, the overall chart still shows a series of lower highs and lower lows, typical of a downtrend structure. Unless TON flips that pattern, rallies are likely to get sold.
Traders' Expectations and Short-term Outlook
Traders are waiting for clues on lower timeframes like the 15-minute or 1-hour charts. They are looking for signs such as bearish divergence, rejection candles, or breakdown in local support. If any of these show up while testing the resistance zone, that could signal shorts.
The short-term outlook leans bullish as long as the TON price grinds up toward $2.90 or higher. However, the medium-term view remains cautious, and traders are waiting for confirmation before taking action.
