Toncoin Shows a Brief Upward Trend After Days of Decline. Still, Bearish Signals and an Approaching Death Cross Suggest the Downtrend May Continue

TON has experienced a slight positive trend in the last 24 hours, following several days of significant declines. Despite this brief upward movement, the overall sentiment remains negative, and there is the potential threat of a looming death cross.

Toncoin [TON] experienced a slight positive trend in the last 24 hours, following several days of significant declines. Despite this brief upward movement, the overall sentiment remained negative, and there was the potential threat of a looming death cross.

Toncoin price has been in a steady downward trend since late July after reaching a high near the $6.00 mark. However, after days of decline, TON showed a brief recovery, rising by 1.2% in the last 24 hours. At press time, it was trading at $3.87 with a market capitalization of over $3.2 billion.

The 4-hour chart showed that a death cross was imminent, which happens when the yellow line goes below the blue line. This is an indication of a more negative trend for TON. Additionally, the Relative Strength Index (RSI) was in the oversold region, indicating that the price may be due for a reversal or a relief bounce.

Among the top 20 assets, TON experienced the highest decline over the last seven days, dropping by over 11%. This significant decline has further hindered its progress in closing the gap with the top 10 assets.

Moreover, market activity was relatively low recently. Despite the overall inactivity, the observed trends were predominantly negative.

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