TONCOIN (TON) is not feeling very well today; the breakdown of the ascending structure is already near. The correction began sharply, despite the growing market.
This, on the one hand, could be a “pre-emptive dump” for those who were waiting for the listing day, but wanted to sell before NOTCOIN (NOT) entered the market. On the other hand, this decline can still be interpreted as a trap for those who decided that it was time to short before the ATH update.
Yesterday they wrote that there is a risk of a correction starting without high updates. At the end of the day, the ascending structure was not broken, BUT the candle on May 15 received the “Expensive” label from the trend reversal indicator, built on the basis of the analysis of candles by Thomas DeMark.
It is easy to check what happened after such candles in the history of the asset on the daily timeframe. We will show examples of the signal in 2023-2024. At best range, very rarely growth. Often this is the start of a correction. Today's daily candle already shows a break in the ascending structure. We will close our speculative#spot_tradewith our hands with an entry point of $5,170 if the price begins to consolidate below the volume level of $6,484.
Today the candlestick may still show growth, but on an event like a spot listing on Binance. There is no point in focusing your expectations on this. Although the situation in which NOTCOIN is listed on the exchange, but TONCOIN is not listed, looks strange, this may be the case.