Since December 4th, Toncoin price has been on a steady decline, dropping from $7.20, while Bitcoin price surged from $103K to $108K between December 4th and 17th. After that, Bitcoin fell, but Toncoin's decline worsened.
Toncoin price has been lagging behind the broader market rally, despite Bitcoin price reaching a new all-time high at $109K. However, some analysts believe that this could be setting the stage for a surprise Toncoin rally.
After a period of rapid ascent, Toncoin price has been facing selling pressure, evident in the lower highs and lows on the 4-hour chart. However, this selling pressure appears to be gradually easing.
4-hour chart of Toncoin price鹽
The Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) histograms both show a decrease in bearish momentum. This is in contrast to the sharp drop in December 2024, indicating that the downtrend is weakening.
Furthermore, the Chaikin Money Flow (CMF) is displaying signs of a potential shift. The money flow has increased above the zero line and is currently sitting at 0.05. This shift suggests that buying interest may be starting to outweigh selling pressure.
Additionally, the Relative Strength Index (RSI) has made a U-turn and is moving towards the overbought zone. At the time of writing, the RSI stands at 38.91, indicating that the selling pressure is subsiding. A possible reversal could be on the horizon as Toncoin moves closer to potential upward momentum.
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