Will Toncoin Ever Reach $2? The Dramatic Truth Behind Its Struggles! 😱💸

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Ah, Toncoin [TON], the darling of The Open Network (TON), has decided to don its finest attire for a brief moment of gaiety-gaining a splendid 2.6% in the last 24 hours! It now flirts with the price of $1.53, basking in the glow of a sumptuous market capitalization of $3.77 billion. What a glorious spectacle! 🎉

On the 16th of December, the TON Foundation, in an act of sheer brilliance, selected OpenPayd to provide the ecosystem’s global fiat infrastructure. A partnership so strategic, it could rival the best-laid plans of even the most cunning foxes! This alliance promises to usher in fiat flows like a genteel host at a soirée, tantalizingly across multiple regions. 🍾

Could this delightful news announcement be the reason for Toncoin’s minor rally? One must wonder what the long-term trajectory holds for this charming token-is it a prince or merely a jester in the grand court of cryptocurrency?

The Grand Multi-Timeframe Analysis of Toncoin

Toncoin 1-day Chart

As we gaze upon the 1-day chart, one cannot help but notice that the swing structure is rather bearish, akin to a melodramatic opera. Witness the sharp descent from $2.16 to $1.45! The internal structure, in its naive optimism, attempted to turn bullish, only to be thwarted by the cruel imbalance between $1.6 and $1.7 (the white box of doom). 🎭

Despite this tragic failure to breach the supply zone, our dear A/D indicator has risen, suggesting that the buyers hold a fleeting, albeit slight, advantage. Meanwhile, the RSI wallows below the neutral 50, and the Stochastic RSI descends further into the abyss. A veritable comedy of errors! 🤡

Alas, the indicators conspire to favor the sellers. Should Toncoin manage to escape beyond $1.7, it might just bounce higher, flirting with the key Fibonacci retracement levels overhead at $1.89 and $2.01. What a tantalizing prospect!

Toncoin 1-hour Chart

Turning our gaze to the 1-hour chart, we uncover a short-term supply zone nestled around $1.56-$1.58. Though the indicators whisper of buying strength and upward momentum, Toncoin faces rejection from the lofty overhead resistance. Alas, the bears remain in control, reigning supreme over both short-term and long-term trends. 🐻

A Fantastical Bullish Scenario

Oh, the less probable route beckons-an audacious breakout past the $1.7 resistance zone! Should the stars align and strong bullish impetus sweep through the market, we may witness a magnificent rally beyond $2. But let us not hold our breath, for miracles are but rare flowers in this desolate desert of finance.

Traders, Gather Round: Use THIS Liquidity Pocket to Sell!

Toncoin Liquidation Heatmap

A bounce to $1.7 may indeed grace us with its presence in the short term. However, it would be a Herculean feat for the bulls to propel Toncoin any higher. The dense cluster of short liquidations around $1.7 serves as a formidable barrier, dragging prices towards it and potentially as high as $1.8. 😅

Considering the prevailing structure and the lack of consistent demand on the 1-day timeframe, along with the recent market sentiment, it seems much more likely that Toncoin will face a bearish reversal at $1.7 rather than experiencing a sustainable bullish breakout. Alas, such is the tragicomedy of cryptocurrency! 🎭

Final Thoughts

  • Toncoin has enjoyed a fleeting rally over the past 24 hours, challenging a local resistance zone at $1.58.
  • This bounce may extend to $1.7, but further ascendance seems unlikely, followed by a likely bearish retreat.

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2025-12-17 16:17