technical analysis and trade signal for $TON /USDT:
Technical Analysis:
1. Price Overview:
Current Price: 6.716 USDT
24h High: 6.779 USDT
24h Low: 6.354 USDT
The price is currently hovering near its 24-hour high, indicating that the market sentiment is generally bullish.
2. Support & Resistance Levels:
Resistance: The immediate resistance level is at 6.779 USDT (24h High). A breakout above this could lead to further upside.
Support: The key support level is at 6.354 USDT (24h Low). A break below this level could signal bearish momentum.
3. Moving Averages:
50 EMA (Exponential Moving Average) is trending above the 200 EMA, which is a bullish signal.
The short-term moving averages are in an upward direction, showing that the short-term trend is bullish.
4. RSI (Relative Strength Index):
The RSI is at 65, indicating that the asset is nearing overbought territory. This suggests a cautionary approach for entering long positions at current levels, as a slight correction might occur before further upward movement.
5. MACD (Moving Average Convergence Divergence):
The MACD line is above the signal line, confirming bullish momentum. However, if the gap between them starts to narrow, it might indicate a potential loss of upward momentum.
Trade Signals & Targets:
1. Long Trade (Bullish Scenario):
Entry: Enter a long position at 6.716 USDT.
Target 1: 6.779 USDT (Previous 24h High)
Target 2: 6.85 USDT (Next resistance level)
Target 3: 7.00 USDT (Psychological round level, higher resistance)
Stop-Loss: 6.35 USDT (just below the support level)
2. Short Trade (Bearish Scenario):
Entry: If the price breaks below the 6.35 USDT support level, enter a short position.
Target 1: 6.20 USDT
Target 2: 6.00 USDT
Target 3: 5.80 USDT
Stop-Loss: 6.80 USDT (just above the recent high)
Trade Momentum:
Bullish Momentum: The market is showing positive momentum as long as the price stays above the 6.35 support level and the price continues to respect the upward trend.