Toncoin (TON) price has experienced a significant rise in its Relative Strength Index, moving from an oversold position to a neutral level. Despite this increase, the RSI remains in a neutral range, indicating no clear trend dominance.

Additionally, the stable supply of TON on exchanges suggests traders are hesitant to commit to major moves. With the EMA lines showing a weak bearish alignment, TON appears to be in a consolidation phase.

TON RSI Is Currently Neutral

TON’s RSI is currently at 45.56, a notable increase from 30 on October 9. This recent uptick indicates that buying momentum has improved, with a recovery from oversold conditions just a few days ago. The move up from 30 suggests that selling pressure has significantly weakened, leading to a stabilization in price action.

However, despite this upward shift, the RSI is still within a neutral range. The current level reflects a market in transition, where neither buyers nor sellers have taken firm control.

RSI, or Relative Strength Index, is a momentum oscillator used to gauge the speed and magnitude of recent price changes. RSI values above 70 indicate an asset may be overbought, suggesting a possible pullback. On the other hand, values below 30 typically signal oversold conditions, often hinting at a potential reversal upward.

Read more: 6 Best Toncoin (TON) Wallets in 2024

TON’s current RSI of 45 sits comfortably between these extremes. In this neutral zone, RSI does not offer a clear directional cue, implying that TON price might continue its consolidation phase.

The market appears to be searching for clarity, with current momentum insufficient to drive a strong breakout or breakdown. As a result, it’s entirely possible that TON remains range-bound

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Author: Tiago Amaral