Toncoin Price Stuck in Three-Dollar Compression Zone
Toncoin (TON) is stuck in a three-dollar compression zone and its price has been grinding at $1.60, according to Jessie A Ellis.
The MACD histogram is nearly flat, indicating that the momentum is flattening near the mid-range, while the Stochastic oscillator just started curling upward from the lower-30s, suggesting that selling pressure may be exhausting itself.
The SMA 200 is at $1.55, which is currently the most important price level on the chart and represents the last line of defense for bulls.
The technical setup breaks down into two scenarios: a bull case with a 40% probability that requires TON to defend $1.57 on any intraday dip and build a base before punching through $1.63-$1.64, or a bear case with a 60% probability that triggers a retest of the SMA 200 at $1.55 if it fails to hold $1.57.
The derivatives desk shows that futures speculators are net long and paying to stay that way, which is a double-edged sword as it can signal conviction but also trapped longs who bought the dip too early.