TON Price Falters at $1.63 as Technical Chart Suggests Weakness

TON's price has been struggling to break above $1.63, and according to its technical chart, this could be a sign of weakness rather than strength.

The token is currently trading at $1.60, below the SMA 20 at $1.64 and the SMA 50 at $1.78.

Momentum has flatlined, with the MACD and signal line converged at nearly identical values, and the RSI sitting at 44.50 in no-man's land between 40 and 50.

While a stochastic crossover from oversold territory could be a weak buy signal, it is typically followed by a dead-cat bounce rather than a structural reversal.

The 24-hour spot volume on Binance is anemic at $7.7 million, and the derivatives market suggests that leveraged longs are actively paying shorts to hold their positions, creating a pressure valve.