Hey Binance family! 👋
Let's talk TONUSDT!
What's Going On?
Right now, TONUSDT is stuck in a sideways range, bouncing back and forth between the 5.00 and 6.00 levels.
Recently, the price tried to break through the 6.00 resistance zone and a downward trendline, but it couldn't hold. However, it's been consistently bouncing off the support zone around 5.00. This support zone is important because the price has respected it multiple times in the past.
What Does This Mean?
We expect the price to continue moving sideways in this narrow range for a while. However, there's a chance of a breakout! If the price can break and close above the downward trendline, it could signal a bullish move.
What's the Target?
Our mid-term target is the resistance zone around 6.200.
What Do You Think?
Do you agree with this analysis? Do you have a different outlook? Let's hear your thoughts in the comments!
Disclaimer: This is not financial advice. Please do your own research before making any investment decisions.