TON Technical Outlook
Looking at the chart on a daily timeframe, we can see that TON maintains its ascending channel pattern over a long period now. Just as we analyzed earlier, the lower channel support stood strong during this period. The price, getting support from this trendline, bounced upwards during the sharp pullback we saw at the end of June.The price, with this strong support, held permanently above the level of $2.76. This area is important as it is both the lower border of the trend and the horizontal support. On the daily timeframe, the price has approached the level of $3.31, which has been tested four times in the past and each time it has served as a strong sell area. If broken above, the price technically turns positive.
- In case of a possible pullback, the support levels to follow are as follows:First support: $3.00 – $2.76 rangeBelow this range, $2.18 is a critical level to watch.
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.
