Toncoin (TON) 4-Hour Technical Analysis

Pattern Observed:

The chart depicts a symmetrical triangle, which indicates price consolidation. This pattern typically precedes a breakout, but the direction (up or down) depends on market momentum and key levels being breached.

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Key Levels to Watch:

1. Resistance (Upper Trendline): Around $6.05

A breakout above this level signals a bullish trend.

Target after breakout: $6.20–$6.40

2. Support (Lower Trendline): Around $5.85

A breakdown below this level indicates a bearish trend.

Target after breakdown: $5.70–$5.50

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Indicators and Momentum:

1. RSI (Relative Strength Index):

If RSI is above 50 and rising, bullish momentum is likely.

If RSI is below 50 and falling, bearish momentum may dominate.

2. Volume:

A breakout with increased volume is a strong confirmation for the direction.

3. MACD:

If the MACD line crosses above the signal line, it supports a bullish breakout.

A downward crossover indicates bearish pressure.

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Prediction:

Bullish Scenario:

If TON breaks above $6.05 with strong volume, the price could rally toward $6.20–$6.40.

Bearish Scenario:

If TON falls below $5.85, expect a drop toward $5.70 or lower, especially with weak market sentiment.

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Recommendation:

Buy Entry: Above $6.05, targeting $6.20–$6.40.

Sell Entry: Below $5.85, targeting $5.70 or lower.

Stop Loss:

For a bullish trade: Place stop-loss at $5.90.

For a bearish trade: Place stop-loss at $6.10.

Keep monitoring the volume and breakout direction to confirm your trade!