Toncoin

Momentum

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>TON price signifies a reversal and has slipped below the 50-day EMA mark.</a></li>
 <li><span>2</span> <a>Sellers aggressively entered the battle and made fresh short positions.</a></li>
</ul>
<p>The Toncoin price has retraced below the 50-day EMA mark and has directed profit booking in the past trading sessions. Per the price action, the token still has room to drag gains toward $4.30.</p>
<p>Since the beginning of March 2024, the TON crypto has gained fresh buying momentum and skyrocketed over 140% to date, making a top around $7.</p>
<p>Following the negative sentiments across the crypto market, buyers could not hold out the gains, and profit booking led to the erosion of gains over 25% this month.</p>
<p>At press time, the Toncoin crypto (TON) price traded at $4.87 with an intraday gain of 2.78%, displaying retracement in the last trading sessions. It has a monthly return ratio of -9.20% and 121.90% yearly.&nbsp;</p>
<p>The pair of TON/BTC is at 0.0000838 BTC, and the market cap is $16.92 million. Analysts are neutral and suggest that the TON crypto may stretch the selloff and retest the 100-day EMA mark ahead.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-can-toncoin-price-retest-100-day-ema-mark-ahead-strong"><strong>Can Toncoin Price Retest 100-Day EMA Mark Ahead?</strong></h2>
<p>The Toncoin crypto has reversed its direction, signifying fresh selling momentum was displayed. A bearish crossover was spotted, and the TON crypto has justified profit booking.</p> <iframe loading="lazy" title="Santiment Chart: Price (TON), Volume (TON)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=toncoin&amp;pt=TON&amp;df=2023-11-02T18%3A29%3A59.668Z&amp;dt=2024-05-02T18%3A29%3A59.668Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Amidst the notable decline of over 12% this week, the trading volume remained average, and investor interest decreased significantly. The trading volume decreased over 35.20% to $143.75 million in the intraday session.</p>
<p>Per the analysis of technical indicators, 11 indicators have given a sell rating, 7 have given a neutral call, and 8 have given a buy call, suggesting a neutral trend.</p>
<p>The Momentum Indicator (RSI) displays a negative divergence, and the curve sharply fell toward the oversold region,</p>
<p>Additionally, the MACD indicator showed a bearish crossover and noted red bars on the histogram.</p>
<h3 class="wp-block-heading" id="strong-what-does-price-volatility-and-weighted-sentiment-data-indicate-strong"><strong>What Does Price Volatility and Weighted Sentiment Data Indicate?</strong></h3>
<p>Amidst the price correction, the price volatility significantly increased this week, justifying that many investors are eyeing to sell. The volatility curve spiked 7.89% to 0.024, noting a sharp selloff this week.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (TON), Weighted sentiment (Total) (TON)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=toncoin&amp;pt=TON&amp;df=2023-11-02T18%3A29%3A59.668Z&amp;dt=2024-05-02T18%3A29%3A59.668Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>However, the weighted sentiment still looked neutral, and the value stayed near the midline region, noting around -0.171, signifying short-term bearish data.</p>
<p>Meanwhile, the long-term perspective is bullish, and the Toncoin crypto is a no-brainer and is a suitable pick to go long for the upcoming months.</p>
<h4 class="wp-block-heading"><strong>Development Activity and Derivative Data Insights</strong></h4>
<p>Per the Santiment data, the development activity data slid below the midline, noted at 0.0095, signifying a decline in the development data.&nbsp;</p> <iframe loading="lazy" title="Santiment Chart: Total Open Interest in USD (TON), Development Activity (TON)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=toncoin&amp;pt=TON&amp;df=2023-11-02T18%3A29%3A59.668Z&amp;dt=2024-05-02T18%3A29%3A59.668Z&amp;emcg=1&amp;emhwm=1&amp;wm=total_open_interest%3Bdev_activity&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%238358FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D" scrolling="no"></iframe>. 
<p>However, the derivative data showcased long unwinding data, and the open interest dropped over 3.56% to $88.24 million during the intraday session.&nbsp;</p>
<p>Per the Fib levels, the Toncoin <a href="https://www.thecoinrepublic.com/2024/05/01/neo-price-near-trendline-support-can-bulls-initiate-pullback/" target="_blank" rel="noopener noreferrer nofollow">price</a> trades near the 38.2% support zone and is close to the mid-Bollinger Band support zone, directing profit booking in the past sessions.</p>
<p>The total supply of TON crypto is 5.11 billion, whereas the volume-to-market cap ratio is 0.00917, ranked 10 in the global crypto market cap.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The TON price has regressed below the 50-day EMA and may stretch to the $4 mark. Additionally, the higher top and higher bottom sequences have breached, and the token slipped below the trendline support mark of $5.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $4 and $3.50</p>
<p><strong>Resistance Levels:</strong> $5.20 and $5.40</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Toncoin Price Prediction: Will TON Slip Toward the $4 Mark Ahead?

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