TON Technical Analysis
A symmetrical triangle structure is clearly visible on the TON chart. The price has been moving within a tightening formation for quite some time, and it has now reached a critical decision point. Since March, the pattern has been defined by rising lows and falling highs—classic traits of a symmetrical triangle, which often precedes a surge in volatility following a breakout.
The downtrend on the chart began around mid-February, finding support near the $2.60 level. From that point on, each bullish attempt has been rejected by the upper trendline. However, the key detail is the consistent formation of higher lows on each pullback. This structure reinforces the legitimacy of the symmetrical triangle, a pattern known for signaling significant price movements.
Currently, the price is nearing the apex of the triangle, and the consolidation is becoming increasingly tight. This heightens the likelihood of a sharp breakout—either upward or downward—in the coming days. The horizontal resistance zone between $3.50 and $3.60 stands out as a critical level. If this area is breached, the next potential resistance levels may be around $4.10, $4.70, and $5.69.
In the case of a downward breakout, the $3.00 and $2.80 levels should be watched as short-term support. If the lower boundary of the triangle is broken, the price could retrace back toward the $2.60 zone.
Another noteworthy observation on the chart is the almost mirror-like symmetry of the ups and downs within the triangle. This reinforces the technical validity of the formation.
In conclusion, TON appears to be on the verge of a major move. The direction of the breakout from the triangle will be decisive. Traders should exercise caution at these levels and consider taking positions based on the direction of the breakout.
Disclaimer: This analysis does not constitute investment advice. It focuses on support and resistance levels that may present potential short- to mid-term trading opportunities depending on market conditions. However, all responsibility for trading decisions and risk management lies entirely with the user. The use of stop-loss orders is strongly recommended for any trade setup shared.
