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TONUSD trade ideas

Bearish on TONUSD: 58% to 97% Probability of Hitting TP1!Toncoin (TON) is currently facing several bearish pressures in the market: Key Fundamentals - Declining trading volume indicates waning investor interest - Price action below key EMA levels (20-day, 50-day, and 100-day) reinforces bearish sentiment - Recent completion of a Death Cross on the daily timeframe, the first since May 2023, suggests potential for further downside - Broader cryptocurrency market uncertainty and regulatory concerns are affecting altcoins like TON I'm employing probability-based analysis on my charts to strategically enter short positions on TONUSD. 3D: Hourly timeframes: Please feel free to share your ideas and thoughts!
CRYPTO:TONUSDShort
by Jasminex1x2
1
Further 50% decline in store for TON with bearish continuationTON/USD – Bearish Continuation with Elliott Wave & Head and Shoulders Setup Toncoin has completed a Wave B as part of an ongoing A-B-C correction in the Elliott Wave structure. We are now entering Wave C, targeting a .618 Fibonacci level around $2.81. This level coincides with a previous high retest, adding further confluence to the idea of a potential bottom there. Additionally, a Head and Shoulders pattern has formed, with the head peaking in May 2024 and a lower right shoulder forming around July/August 2024. The neckline sits around $5.00, and a confirmed breakdown below this level could accelerate the move toward the $2.81 target, completing Wave C. Key Levels: • Current Price: $5.61 • Neckline: $5.00 • Wave C Target: $2.81 (50% drop) Both the Elliott Wave and the Head and Shoulders pattern suggest further downside, with $2.81 acting as a critical support zone. A break of the neckline could signal more selling pressure. Keep an eye on price action near $5.00 for confirmation.
CRYPTO:TONUSDShort
by Blockbullder
TONUSD 1st 1D Death Cross in 1.5 years calls for more downside.Toncoin (TONUSD) has been trading within an established long-term Channel Up (blue) and a Diverging one (dotted), while forming a Bearish Leg since the June 15 2024 High. The highlight of the day is the completion of the first Death Cross on the 1D time-frame since May 19 2023. Naturally this is calling for more downside, which can extend as low as the 0.618 Fibonacci retracement level according to the previous Bearish Leg. Our Target is 3.50 and we expect the correction to complete a Bottom after the 1D RSI posts 3 straight Higher Lows, similar to the Bullish Divergence of July 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:TONUSDShort
by TradingShot
TONUSD: A Bearish Rollercoaster – Are You Ready for the RideTelegram CEO Pavel Durov Arrested in France Pavel Durov, the CEO and founder of the popular messaging app Telegram, was arrested on Saturday evening at Le Bourget Airport in France while exiting his private jet. The arrest is linked to an ongoing police investigation in France, which is reportedly focused on Telegram's lack of content moderation, allowing criminal activity to persist on the platform. Charges and Potential Penalties Durov, a Russian-French billionaire, faces serious charges related to offenses allegedly facilitated through Telegram, including complicity in drug trafficking, crimes against children, and fraud. If found guilty, he could face fines and up to 20 years in prison, depending on the specific laws under which he is charged and the severity of the alleged offenses. Impact on Toncoin and TON Ecosystem The arrest of Telegram's CEO has had a significant impact on the cryptocurrency market, particularly on Toncoin (TON), which is closely tied to Telegram. Toncoin experienced a sharp decline of over 19%, dropping from around $6.75 to under $5.50 in less than 12 hours following the news. The TON ecosystem as a whole has been affected, with concerns raised about the future of the blockchain and its relationship with Telegram. Reactions from the Tech Community and Supporters The tech community has expressed various reactions to Pavel Durov's arrest, with concerns raised over privacy, security, and the balance between these aspects and government oversight. Elon Musk, CEO of SpaceX and Tesla, took to Twitter to show his support for Durov, using the hashtag #FreePavel and sharing a theoretical idea about people being executed for liking a meme. The TON community has also issued a statement expressing its firm support for Durov and emphasizing that the operation and mission of the community will not be affected by this incident. Now let's have a look at the technical context behind the TONUSD and what I'm looking for to get positioned into shorts on hourly timeframes by relying on probabilities. 3D: 1H:
CRYPTO:TONUSDShort
by Jasminex1x2
2
Toncoin (TON) - A Technical Analysis.Toncoin has been on a bullish rally, reflecting a robust uptrend since the beginning of the year, characterized by higher highs and higher lows. The recent price consolidation around the $7.50-$8.00 range indicates a potential accumulation phase, which might precede another breakout. The daily candlestick chart reveals a consistent uptrend with periodic corrections, suggesting strong buying pressure. The recent bounce off the $7.00 support level underscores the bulls' control. Notably, the current trading session's candlestick suggests continued buying interest, as indicated by the strong closing above the $7.60 mark. Relative Strength Index (RSI): The RSI is currently at 57.95, which is in the neutral zone but trending upwards. This indicates that the coin is neither overbought nor oversold, offering room for further upward movement. The RSI’s recent climb from the lower 50s suggests a resurgence in bullish momentum. The Exponential Moving Averages (EMAs) across various timeframes (10, 20, 30, 50, 100, 200) are showing a strong buy signal. The shorter EMAs (10, 20) are significantly above the longer EMAs, which supports the bullish trend. The current price trading above the 10-day and 50-day SMAs ($7.38 and $6.83 respectively) confirms the continuation of the upward trend. MACD (Moving Average Convergence Divergence): The MACD indicator shows a slight bearish crossover, which could indicate short-term weakness. However, considering the strong uptrend and the positioning of the MACD line above the zero line, this could also be a temporary consolidation before another upward push. The price is trading well above the Ichimoku cloud, and the future cloud is widening, indicating strong bullish momentum and suggesting that Toncoin is poised for continued growth. The cloud's leading span is also expanding, further supporting the bullish outlook. Although the specific volume data is unavailable, the average volume over the last 30 days suggests robust trading activity, with a trading volume of 252.19M in the last 24 hours. This is indicative of sustained interest and liquidity in the market. Toncoin has been capturing market attention with its innovative blockchain solutions and increasing adoption. The recent news suggests a surge in interest from institutional investors, further bolstering the bullish sentiment. Additionally, Toncoin’s developments in expanding its ecosystem and enhancing scalability are likely to attract more traders and investors. Given the current market structure, technical indicators, and bullish sentiment, Toncoin presents a compelling case for a long position. However, traders should be cautious of potential pullbacks. Long Position Strategy: Entry Point: Around $7.60-$7.70. Price Target: $9.00 - $10.00. Given the current momentum, the next resistance levels are around $8.50 and $9.00. A break above $9.00 could potentially drive the price towards $10.00, which is a psychological barrier. Stop Loss: $7.00. This stop loss level is below the recent support, ensuring protection against any unexpected downside movement. Short Position Strategy (if market conditions reverse): Entry Point: If the price breaks below the $7.00 support level, consider a short position. Price Target: $6.00 - $5.50. A breakdown could see the price retesting the $6.00 and $5.50 support zones. Stop Loss: $7.50. This stop loss is above the recent consolidation area, minimizing risk if the price reverses back to an upward trajectory. Toncoin exhibits a strong bullish pattern with substantial room for growth, making it an attractive candidate for long-term investors and swing traders. However, it’s crucial to stay vigilant and adjust strategies based on market dynamics and news developments. Always keep an eye on key support and resistance levels, and employ stop losses to protect your capital.
CRYPTO:TONUSD
by AxiomEx