TON daily review: Will TON break out or stay stuck in consolidation? đđ€
Hey, TON fam! Todayâs chart for TON has been pretty flat with no major moves in either direction. After an early morning pump that pushed the price to $5.54, TON has been stuck in a tight range, now consolidating around $5.49. So, are we about to see a breakout or is TON in for a deeper pullback? Letâs break it down! đ§
First, the moving averages tell us the short-term momentum is fading. The 7-period and 25-period MAs are both starting to flatten out, while the 99-period MA at $5.516 is acting as a resistance level. For TON to have a chance at a breakout, it needs to reclaim $5.50 and stay above that 99-period MA. Right now, weâre seeing a lot of indecision with the price stuck between $5.48 and $5.50. đ
The MACD isnât giving us much hope either. The MACD line has crossed below the signal line, and the histogram is showing continuous red bars. This indicates that bearish momentum is building, and the bulls are losing steam. Unless we see a bullish crossover soon, it looks like TON may continue this sideways trend or even dip further. đ
Volume has been relatively low throughout the day, except for a spike in the morning, which corresponded with the pump to $5.54. Since then, trading volume has dried up, which explains why the price is stuck in this narrow range. For TON to break out of this consolidation phase, weâll need to see a significant increase in volume. If buyers step in, TON could retest $5.54 and potentially push higher. However, if the bears take control, we might see a dip towards $5.45 or even lower.
So, whatâs your call? Will TON break out of this range, or are we headed for more consolidation? Drop your thoughts in the comments below and hit that follow button for more daily updates! đđ
