TON is poised at a critical juncture, with signals of decreasing selling pressure gradually emerging

The Open Network (TON) daily chart presents an interesting market state: the downtrend is losing momentum, but the rebound has not yet truly begun. According to the latest data, TON is currently trading at $1.72, with a 24-hour decline of -2.55%, and trading volume remains at 770.53K USD. This easing of the decline precisely validates an important technical turning point—the market is transitioning from a unilateral downtrend to an overextended consolidation.

Momentum Indicators Signal Easing

The key change in the current market is reflected in the momentum indicators. Although the MACD is still operating below the zero line, its structure is gradually improving, indicating that selling pressure is not intensifying further but rather in a phase of decline. This does not mean buyers have taken over, but it suggests that the previous selling enthusiasm is cooling off.

The RSI trend further confirms this. During the decline, RSI had touched lows, but now it is slowly rebounding. This rebound indicates that downward momentum has been exhausted, and market demand is beginning to recover. While this is not enough to confirm an uptrend, it at least increases the probability of a sideways consolidation or a partial rebound rather than a continued plunge.

Support and Resistance as Decisive Factors

TON’s technical pattern is already quite clear: support and resistance levels will determine the next market direction.

The $1.50 zone is the most critical support recently. Buying interest has repeatedly shown up here, and if the price can hold, it will help form a more solid bottom structure. Once this support is broken, market sentiment could quickly turn to the sellers, triggering a new round of selling. The support levels below are at greater risk—if the price falls into that area, it indicates that the current accumulation efforts have failed, and declining market confidence could accelerate the downward move.

Looking upward, the $1.63 to $1.65 zone forms the first resistance. This area has seen previous price reactions and seller pressure. Unless trading volume and momentum significantly increase, rebounds to this zone will likely face resistance. Breaking through this area would change short-term market sentiment and open space for further gains. However, until the price stabilizes and gains market recognition, the upward move is more likely to be a technical rebound rather than the start of a new trend.

Order Book Liquidity Insights

From the order book data, the overall market characteristic is indeed consolidation. The buy wall around $1.54 provides short-term support, acting as a buffer to weaken downward shocks. As long as liquidity remains sufficient, downward fluctuations should still be absorbable.

On the sell side, there are significant sell orders around $1.60 and $1.65. Breaking below these sell orders could give some room for a short-term rebound, while breaking above them indicates increasing buyer confidence. The larger liquidity scale at higher levels makes it more challenging for the price to sustain a continuous upward trend.

Trading Strategy Should Adapt to Conditions

From a trading perspective, if the price continues to hold support and momentum indicators keep improving, a cautious bullish strategy could become more attractive. Such trades typically involve setting conservative targets near resistance zones and employing strict stop-losses to manage the risk of support breakdown.

Bearish opportunities may still arise near resistance levels, especially if rebounds weaken or momentum stalls. Considering that the overall trend has not fully turned bullish, rebounds approaching key resistance levels often face selling again.

Market at a Crossroads

In summary, TON is at a critical turning point on the daily chart. Selling pressure has weakened, but buyers have not yet demonstrated enough strength to confirm a reversal. The next decisive move is likely to unfold within the current consolidation range, with the gains and losses at support and resistance levels directly influencing the market’s direction. For TON traders, this is both a test of patience and an opportunity to wait for high-probability signals.