Toshi crypto can rally to $0.007 IF bulls overcome demand slump – Details
Main Idea
Toshi (TOSHI) crypto experienced volatility with a recent price drop after a rally, and technical analysis suggests potential for a bullish breakout if buying pressure increases.
Key Points
1. Toshi (TOSHI) recorded a 5.61% price drop over the past 24 hours following a 34% rally that lasted from August 3 to August 6.
2. The 1-hour chart showed a bullish market structure after TOSHI moved past $0.00065, with a retracement to $0.000518 before recent gains.
3. A descending triangle pattern formed on the 1-hour timeframe, with the $0.0006-$0.00062 area identified as a key support zone.
4. The 2-week liquidation heatmap indicated a liquidity buildup above $0.006, suggesting a potential price movement toward that level.
5. The MFI (Money Flow Index) highlighted weak buying pressure, which needs to improve to sustain the uptrend.
Description
The Base blockchain memecoin Toshi had a bullish structure on the higher timeframes, but demand seemed weak.
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