Price Position and Structural State
Taiwan Semiconductor Manufacturing Company (TSM) closed at 419.13 USDT on August 28, 2026, down 1.67%. The asset now sits in a sideways structure inside its 55-day range. Current 55-day support is near 368.81 USDT, with resistance near 460.81 USDT. Price is near the middle of the range, so the market has no clear structural edge until it closes outside these levels.
Moving Averages and Trend Context
TSM is trading inside a zone of moving-average confluence. MA50 at 416.628 USDT sits just below price, while MA9 at 419.316 USDT sits just above. The compression across multiple moving averages signals range contraction rather than trend dominance. The next meaningful read comes from price separating cleanly from this cluster.
Trading Friction and Price Efficiency
TSM shows moderate trading friction, with a 3-day friction score of 48.3. The score combines price progress, wick rejection, and volume confirmation. Recent candles show mixed acceptance, so price is moving but still showing some noise. Moves near support or resistance need a cleaner daily close before they carry stronger weight.
Open Interest, Funding, and Positioning
Open interest fell -4.08% in one day and remains near the lower side of its 30-day range. This shows participation is weak and exposure is still being reduced.
Funding is near neutral across the 24-hour and 7-day averages, at 0.000000% and +0.002938%. This shows limited cost pressure on either side, so funding is not giving a strong directional signal right now.
The long/short ratio is 2.49, sitting near the lower side of its 90-day range at 13.48%. This means long accounts still dominate, but the long tilt is weaker than usual compared with recent history.
Correlation, Beta, and Index Relationship
TSM shows weak linkage to the broader crypto market (Sigloid Index). Correlation is limited, and R² indicates that index behavior explains only a small portion of its movement. This suggests price action is largely driven by asset-specific factors rather than broader market direction. Over the 30-day window, the relationship is stable. Over the 60-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.144 | 0.123 | 0.021 | Weak linkage |
| 60D | 0.15 | 0.159 | 0.023 | Weak linkage |
| 180D | — | — | — | Not enough data |
Momentum, Volatility, and Indicator Pressure
TSM remains in a low-volatility setup. ATR% reads 2.63, close to the bottom of its full historical range, and Bollinger Band width% reads 5.88, close to the bottom of its full historical range. 20-day Volume Z-score is -0.39, so participation is not forcing a broader move yet.
Momentum is mixed. RSI is 49.51, ROC14 is -1.63%, and MACD histogram does not confirm a clean direction. Indicator pressure remains uneven.
The read is simple: volatility is compressed and momentum is not strong enough yet. A better signal would need range expansion with stronger volume.
Broader Market Regime
The Sigloid Index remains in a bullish regime, showing broad strength across the market. TSM has a weak link to that market condition, so price behavior depends more on its own structure than on the broader market trend.
Key Levels for the Next State Change
For TSM, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 460.81 USDT establishes a bullish regime, while a daily close below 55-day support at 368.81 USDT confirms a bearish regime.