$TON

TON Short-term Correction, Support Test May Lead to Rebound Opportunity

Market Analysis

The current price of TON is $5.737, with a slight daily decline of 0.03% and relatively stable trading volume. On the daily chart, the price is maintaining above the MA7 moving average ($5.616), with support below at the MA99 moving average ($5.595). Following the rebound from the low of $4.775, bullish momentum has strengthened, but the upper MA25 moving average ($6.084) has created strong resistance, suggesting that short-term prices may continue to fluctuate.

Key Levels

• Support Levels: $5.595, $5.543

• Resistance Levels: $6.084, $6.432

Trading Strategy

1. Long Position Strategy:

If the price stabilizes at $5.595, consider a small long position with a target of $6.084 and a stop loss at $5.500. After breaking $6.084, further long positions can be pursued with a target of $6.432 and a stop loss at $5.950.

2. Short Position Strategy:

If the price breaks below $5.595, consider a small short position with a target of $5.543 and a stop loss at $5.700. If a rebound to $6.084 encounters resistance, attempt a short position with a target of $5.737 and a stop loss at $6.150.

Market Outlook

The current trend of TON is constrained by moving average resistance, with a relatively balanced bullish and bearish force, indicating a focus on short-term fluctuations. Future attention should be paid to changes in trading volume as well as moving average support and resistance levels, as the direction of the breakout will serve as an important basis for the next layout.

Feel free to follow for updates, don't get lost. Daily analysis of mainstream cryptocurrencies and popular altcoins will be provided, wishing everyone prosperity and a prosperous year together!