Injective announced a partnership with TON. The release appeared on the team's X-account:
“…Injective assets such as $INJ can now be ported and used on the TON network, while $TON will also be used in dApps on the Injective platform… This includes using $INJ and $TON for new functionality such as trading, asset tokenization, and on-chain lending… $INJ and $TON are just the initial assets that will be introduced and will act as a catalyst for future integrations between the Injective and TON ecosystems.”
The#TONprice did not react to the news, but yesterday, on Telegram's birthday and during the announcement of the DOGS listing, like NOT, it showed growth.
In general, the TON price from the August 9 review worked out the correction forecast in the fourth wave and growth in the fifth. The price set the low of the fourth wave at $6,056, then managed to consolidate above the volume level of $6,153 (we indicated it as the correction target in the review). And went into the fifth wave, setting a high at $7,262 (the review indicated the target of $7,371).
So far, the four-hour TF says that this was precisely the high of the local fifth wave. This means that we expect an ABC correction further. For the scenario of further growth after it, it is optimal not to go below the EMA 50 of the weekly TF (currently in the area of the volume level of $5.674). The price does not necessarily go so low. This is rather a guideline for the optimal selection point.
The asset has a very interesting candlestick structure. On the weekly TF, the next two weeks are reversal weeks for upward growth. BUT on the monthly TF, as we have already written, the next two are reversal weeks for a global correction. The conclusion is the same - in the coming months, September-October, a new ATH is likely. With an approach to the psychological $ 10 or even higher. BUT then we expect a protracted correction of the entire global uptrend from 2023 from the asset. Only the altseason could prevent it (and even that is not a fact).
