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Market Direction

TON faces resistance, Downward bias remains

Published: Apr 4, 2025
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As TON moves lower, attention shifts to its next support levels. Let’s take a closer look at the key resistance at $3.79 and the potential for further downside, as well as bounce opportunities.

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Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


Technical analysis & market mechanics

  • Shorts were liquidated at $4.08, triggering a sharp sell-off - this level now acts as a key resistance and sell zone.
  • TON has broken below local support at $3.50-$3.00, confirming downside momentum.
  • $2.90 is the next key downside target - a structural level likely to be tagged given current bearish flow.
  • RSI was previously overbought and has now reset back to neutral, validating the short bias and direction.
  • If the price moves into $2.90, we anticipate a bounce that sets up a lower high formation.
  • Lower high is expected to form between $3.53-$3.62, with potential extension back into $3.790.
  • Price action is uncorrelated to the broader market
  • Bearish volume is confirming continuation, with little sign of buyer absorption on the way down.
  • Short-term trendlines are likely to act as resistance during any relief bounce, aligning with the anticipated lower high zone.
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  • Next Support: $2.900
  • Next Resistance: $3.790
  • Direction: Bearish
  • Upside Target: $3.790
  • Downside Target: $2.000

Cryptonary's take

We expect TON to trade lower into $2.90, where a short-term bounce is likely to develop. This bounce would give us the opportunity to capitalize on a lower high forming into our trade zone at $3.53, $3.62, and $3.79.

Shorts were liquidated at $4.08, and the price has since sold off heavily - this zone now marks a high-conviction short opportunity on retest. The direction is clear: push lower into $2.90, bounce, and then roll over again from resistance. We will execute once the price enters our trade zone and confirms the lower high.

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