Toncoin (TON) price is up more than 7% in the last 24 hours, showing signs of recovery as it approaches a $16 billion market cap. After touching oversold levels with an RSI as low as 18, TON has rebounded to 47, suggesting potential for continued growth.

Additionally, TON’s supply on exchanges decreased from 1.91 million to 1.85 million on the last day, signaling reduced selling pressure. While EMA lines recently formed a death cross, short-term indicators hint at a possible reversal if momentum sustains, positioning TON to test key resistance levels near $6.3 and beyond.

TON RSI Recovered From The Oversold Zone

Toncoin Relative Strength Index (RSI) has recovered significantly, currently sitting at 47 after dropping as low as 18 between December 9 and December 10. This move marks a recovery from extreme oversold conditions, which often precede a rebound in price.

TON price is up more than 7% in the last 24 hours, reflecting renewed buying interest as the RSI approaches the neutral zone. This upward momentum suggests that TON’s price could continue rising, provided buying pressure sustains.

The RSI is a momentum oscillator that ranges from 0 to 100, measuring the speed and magnitude of price movements. Readings below 30 indicate oversold conditions, signaling potential for a reversal, while readings above 70 suggest overbought conditions and the likelihood of a pullback.

With TON’s RSI now at 47, it has exited the oversold zone and moved closer to neutral territory. This level suggests that the current rally could have more room to grow, as TON still has space before hitting overbought levels.

Toncoin Supply On Exchanges Decreased to 1.85 Million

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Author: Tiago Amaral