Toncoin (TONUSD) advanced cautiously in its latest intraday trading, supported by positive signals from the relative strength indicators. This rise brought the price to test resistance at the 50-day SMA while simultaneously retesting a main short-term descending trend line. However, the relative strength indicators have reached extremely overbought levels compared to the price movement, adding further negative momentum around the cryptocurrency.

Therefore, we expect the cryptocurrency to decline in its upcoming intraday trading as long as the resistance level of $2.3778 holds, targeting the key support level of $2.0168.

Todays price forecast: Bearish.