$TON /USDT AT A PIVOTAL MOMENT – WILL IT BREAK OR SLIDE? 🚨‼️‼️
The TON/USDT 4-hour chart on Binance shows significant activity, with the price hovering around 4.970 USDT after a steep descent within a clear descending channel. This setup has been a battle of bears dominating, but we’re seeing potential signs of a reversal as it tests key support and resistance.
💡 Key Levels to Watch 💡
🚧 Resistance Zone: 5.100 USDT – A breakout here could signal a shift in momentum, paving the way for a bullish rally towards 5.300 USDT and even 5.500 USDT in the longer term. If TON breaks through this resistance, it’s likely to attract strong buying interest, pushing the price higher.
📉 Support Level: 4.800 USDT – This is the current floor. A failure to hold here may drive TON lower to 4.600 USDT, with further downside risk if bearish momentum intensifies.
💥 Entry Strategy 💥
• Long Entry: Look for a breakout above 5.100 USDT, targeting 5.300 USDT and 5.500 USDT in stages. Place a Stop Loss just below 5.000 USDT to minimize downside risk.
• Short Entry: If TON fails to maintain above 5.000 USDT, consider a short position aiming for the 4.800 USDT support level. Set a Stop Loss around 5.150 USDT to protect against unexpected reversals.
TON is at a crossroads – whether it rebounds or breaks lower will shape the upcoming trend!
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