TON Technical Analysis
Looking at the chart, we see that TON is printing a widening ascending channel, where the trend area in the lower region remains strong and rebounds from here in every sharp fall. The price again managed to exceed the resistance level of 2.76, rebounding from this trend zone in the last fall. The level 2.76 bears importance as it is the trend support and horizontal support at the same time.
It currently targets the resistance area of $3.31–$3.50, which has been tested four times before. If the price breaks out from this short-term falling pattern, it is possible that the price will first test $4.13 and later the resistance level of $4.87–$5.16. The upper trend zone is to be one of the main target points as long as this ascending pattern in the long term is maintained.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
