TON Eyes Recovery as Market Sentiment Shifts Bullish Toncoin (TON) is maintaining its upward trajectory, trading north of $1.40 this Wednesday. This follow-up rally of 4.5% over the last 48 hours comes as a relief after the sharp correction seen last week. Technical indicators suggest that bearish pressure is dissipating, while the derivatives market paints a more optimistic picture.
Key metrics from CoinGlass highlight a strengthening Long/Short ratio of 1.06, signaling that buyers are regaining control. This sentiment is particularly strong on Binance, where long positions have surged to 1.84—a peak not seen since early January—suggesting high trader confidence in a continued price bounce.
Bullish Funding Rates Support TON’s Upside According to CoinGlass, the OI-Weighted Funding Rate for Toncoin has officially shifted into positive territory, currently sitting at 0.0045%. This flip indicates a market shift where long-position holders are now paying short-sellers, signaling that the majority of traders are positioning for a price rally rather than a further decline. This transition serves as a key fundamental pillar for TON’s ongoing recovery.
Toncoin Technical Outlook: TON Rebounds After Successful Support Retest Following a sharp 11% decline last week, Toncoin successfully tested its daily support level at $1.31. The asset found its footing early this week, rallying 4.5% through Tuesday to reach the $1.40 mark on Wednesday.
If this momentum persists, TON is poised to challenge the $1.59 resistance zone, where the 50-day Exponential Moving Average (EMA) aligns with a long-term descending trendline. Technical indicators support this recovery: the RSI has bounced from oversold territory to 35, while the MACD histogram shows diminishing bearish pressure. However, a sustained breakout will likely require the RSI to reclaim neutral levels above 50.
Conversely, should TON encounter a rejection at current levels, the price may retreat to retest the primary daily support floor at $1.31.
