Technical analysis is a very popular tool for trading, especially in the cryptocurrency scene. The price action of The Open Network (TON) has been catching attention lately, consistently breaking through all-time highs.
Using technical analysis, it’s easy to define support and resistance levels. These are typically points where the price sharply increases or decreases, creating strong levels when the price encounters them again. This method has proven effective in the past for various levels such as the $0.55-level, $1.9-level, $4.5-level, and $2.6-level.
And a few days ago, the price peaked at $7.3, but that level has now been broken and turned into support. As long as that level sticks around, this is a really bullish chart.
Written by maartunn