A naukri.com initiative
TronWeekly
3w
171
Image Credit: TronWeekly
Toncoin (TON) Trades at $2.98 as Bulls Eye Breakout from Sideways Trend
- Toncoin (TON) is trading at $2.98, up 0.54%, amidst a narrow trading range of $2.85–$3.20.
- On the daily chart, low volume and sideways movement are noted, while the 4H chart indicates a potential bullish trend.
- Technical analysis reveals tight Bollinger Bands, a rising RSI at 53.49, and a bullish MACD crossover, suggesting a breakout.
- A breach above $3.00 resistance could target $3.20–$3.50, while a drop below $2.90 might lead to $2.70 support test.
- Toncoin's recent trading patterns reflect hesitation among traders after a decline from the April high near $4.30.
- Traders anticipate a breakout as TON consolidates within a defined price range.
- The 4-hour chart hints at potential bullish momentum building up as Bollinger Bands tighten and TON trades above the 20-period SMA.
- The RSI climbing to 53.49 and MACD displaying a bullish crossover bolster the case for an upward move.
- To affirm a reversal, TON must surpass the $3.00 mark, potentially opening the path to $3.20 and $3.50 targets.
- A failure to maintain above $2.90 support may trigger a descent towards $2.70.
- Traders closely monitor Toncoin's price action at this critical juncture, anticipating a breakout from the current consolidation phase.
Read Full Article
10 Likes
For uninterrupted reading, download the app