TON Price Stuck in Neutral, Bears Hold the Upper Hand

TON's price is stuck at $1.60 as it trades below all its moving averages, including the 7-day and 20-day EMAs. The momentum has flatlined, with the MACD and signal line converging to the same value, indicating a lack of buying power.

The Bollinger Band picture also supports this view, with price sitting at the lower third of its band range. This means that the path of least resistance is continuation toward the lower band around $1.52 before any mean-reversion trade becomes attractive.

Traders are looking for a catalyst to break through the current resistance level of $1.63, which coincides with the SMA 20. However, without fresh on-chain developments or a Bitcoin-driven risk surge, the market is likely to remain bearish.