TON Price Hits Dead Weight at $1.60: Bears Hold the Cards

TON price is stuck at $1.60, unable to break through resistance and struggling to find momentum.

The market's spot volume is minimal, with only $7.7 million traded in the last 24 hours on Binance - a 'barely a rounding error' for a top-30 asset, according to Zach Anderson.

The immediate setup is bearish, with all key moving averages pointing downwards, including the 20-day SMA at $1.64 and the EMA 12/26 spread in negative territory.

The momentum read is also bearish, with the MACD histogram collapsed to zero and the RSI at 44.50 indicating a lack of conviction among buyers.