TON Technical Analysis
Analyzing TON chart on a daily time frame, we see that there is a clear symmetrical triangle formation and that the price has been trading between the upper and lower trendlines for some time now. TON is currently trading around the level at $3.17. We know that such formations usually result in a sharp move upward.
We have the key support at $3.12. The price is highly likely to move toward the upper border if it does not fail to hold above this key support level. The price will meet the resistance levels at $3.26 and $3.31. Above these resistance levels, TON could go up to test $3.61 and $3.71 if it can hold above $3.26 and $3.31.
According to a bearish scenario, the zone between the levels $2.99 and $2.94 is a key area. If the price closes below this area, it is possible to test $2.81.
Summary
- Current price is $4.53, showing a short-term positive trend.
- Holding above $4.44, the first target is $4.93.
- Closing above $4.93 opens the way to $5.10–$5.60.
- Technical breakout targets are $6.18, $6.39, and $7.10.
- Main long-term target is $8.40.
- Losing $4.06 support may lead to drops toward $3.80 and $3.30.
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, traders are responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during trades.
