Toncoin Price Forecast – TON Bears Target $1.25 Zone as Bearish Pressure Persists

Highlights:

• The Toncoin price has decreased by 2% to trade at $1.29 today.
• The TON TVL and volume have decreased, signalling low investor interest and liquidity in the TON market.
• The technical picture shows intense bearish sentiment, as TON bears target the $1.25 zone.

Toncoin (TON) price is currently trading in the red, exchanging hands around $1.29, marking a 2.62% drop today. Moreover, the declining participation in the on-chain action and derivatives data indicates the bearish perspective is mounting. Technically, the TON price is trading within a downtrend, as the bears may target $1.25-$1.23 levels. 

According to the DefiLlama data, the volume has decreased, with TON’s TVL down 3.54%. The volume recorded in the weekly report of the Toncoin Decentralized Exchanges (DEXs) has been decreasing to its lowest level of just $12.6 million. This decrease in the volume and TVL means a decline in the interest and liquidity of traders in Toncoin, which strengthens its negative perspective.

On the derivatives side, there is a positive funding rate by TON, which is a sign of building a bullish picture. The metric has flipped positive at 0.0052 on Wednesday, indicating growing momentum. The favorable ratio indicates that the longs are at the expense of the shorts, which points to a potential rebound in Toncoin price soon. However, this can only be imminent if the bulls step into the market and displace the bears. 

TON Bears Target $1.25 Levels as the Downward Spiral Builds

The TON/USDT 4-hour chart shows the token exchanging hands at the $1.29 mark, with the selling pressure evident.  The price has been on a rollercoaster, within a falling channel, sliding below the 50-day SMA at $1.36 and the 200-day SMA at $1.40. This indicates that the bears are prevailing in the Toncoin market, as TON bears target the $1.25 levels soon.

Following the bearish outlook, the Toncoin price has found support at the $1.28 mark, from where it bounced to current levels. If this key support zone holds, the token may rebound towards the $1.36 zone, aligning with the 50-day SMA. Meanwhile, the daily volume has increased by 11% to $88.6 million, rekindling hope among traders, as trading activity spikes. 

Looking at the Relative Strength Index is around 36.45, below the signal line at 41.16. This suggests the selling pressure is increasing but might be cooling off soon as the RSI has reversed to the upside. If the momentum builds and the RSI rises towards 40, TON could be in for a rebound.

In the meantime, the 50-day SMA at $1.36 is the next target for the bulls. If Toncoin price holds above the $1.28 support level, it could see a reversal as buyers jump in. But if it dips below, we will likely head toward the next support around $1.25-$1.23, which acts as a safety net. If this level fails, the $1.12 lows last seen on Feb 6 could be in play.