TON 4 H
⛳️| Let's take a quick look at TON, a popular Layer 1 crypto project that became well-known for its airdrops within Telegram. Currently, with a market cap of $9.19 billion, it ranks 16th in the coin market cap.
🔍 TON was one of the coins that experienced a sharp and significant drop during the recent Bitcoin downturn and failed to recover fully after pulling back to the 0.5 Fibonacci area. It has established its support floor at $3.701, with the main price floor being at $3.494, which is an important daily support.
📉 For a short position, you can consider entering if the $3.672 area breaks, but be aware that the main trigger is at $3.494, which is also a very important support area. The entry trigger for momentum would be a break of 35.92 in the RSI.
📈 For a long position, $3.892 is a good trigger, but be cautious as you are opening a long position during a correction of a downtrend, and the momentum could switch against your position at any time, potentially resulting in losses. Therefore, enter the position with the minimum possible risk.
🔍 TON was one of the coins that experienced a sharp and significant drop during the recent Bitcoin downturn and failed to recover fully after pulling back to the 0.5 Fibonacci area. It has established its support floor at $3.701, with the main price floor being at $3.494, which is an important daily support.
📉 For a short position, you can consider entering if the $3.672 area breaks, but be aware that the main trigger is at $3.494, which is also a very important support area. The entry trigger for momentum would be a break of 35.92 in the RSI.
📈 For a long position, $3.892 is a good trigger, but be cautious as you are opening a long position during a correction of a downtrend, and the momentum could switch against your position at any time, potentially resulting in losses. Therefore, enter the position with the minimum possible risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.