Toncoin (TON) has demonstrated a notable recovery from oversold levels, with its price increasing by over 7% in the past 24 hours and its market cap nearing $16 billion. The Relative Strength Index (RSI) has improved to 47, showing signs of potential growth despite recent EMA death cross formations.
Ton's supply on exchanges has decreased slightly to 1.85 million, a sign of reduced selling pressure, which could support continued price gains toward resistance near $6.3. This decrease suggests a shift in trader sentiment toward holding or staking, rather than selling.
Ton's EMA indicator recently formed a death cross, signaling a bearish trend. However, short-term indications suggest potential reversal if upward momentum continues. If sustained, this could lead Ton to test resistance levels between $6.3 and $7 in December.
The ongoing movements within Ton's price and exchange supply indicate both potential risks and opportunities, as positive RSI adjustments and lowered exchange availability enhance conditions for further market action.
