TON Price Set for Long Squeeze as Technicals Favor Correction
TON's price has been stuck in a narrow range of $1.58 to $1.64, but technical indicators suggest it's due for a correction. The token is heavily over-leveraged, with futures longs sustaining an inflated funding rate of 0.35% while spot volume remains weak.
According to Timothy Morano, TON is currently in a bearish trend structure, with its price below its short-term and long-term moving averages. Momentum has stalled, and the Relative Strength Index (RSI) is hovering around 45, indicating neither buyers nor sellers are committing capital.
The Bollinger Band %B at 0.33 suggests that TON's price is in the lower third of its range, with resistance capped at $1.64. The futures market is signaling a potential liquidation cascade, with leveraged longs paying a premium to hold positions while spot goes nowhere.
The most likely scenario is a flush to $1.52-$1.55 before any genuine recovery, with the SMA 200 serving as strong support. However, if Bitcoin sparks a meaningful altcoin rotation or a legitimate TON-specific catalyst emerges, prices could surge towards $1.75.