TONUSD 1st 1D Death Cross in 1.5 years calls for more downside.

9월 12일

Toncoin (TONUSD) has been trading within an established long-term Channel Up (blue) and a Diverging one (dotted), while forming a Bearish Leg since the June 15 2024 High.

The highlight of the day is the completion of the first Death Cross on the 1D time-frame since May 19 2023. Naturally this is calling for more downside, which can extend as low as the 0.618 Fibonacci retracement level according to the previous Bearish Leg.

Our Target is 3.50 and we expect the correction to complete a Bottom after the 1D RSI posts 3 straight Higher Lows, similar to the Bullish Divergence of July 2023.

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