$TON Technical Analysis: Bullish Momentum Continues After Key Breakout
🎤Time Frame: D
🕯Status: long
⚡️01.12.2024
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🐂Summary:
Double Bottom Formation: The price formed a textbook double bottom pattern around 4.52 USDT, signaling a strong reversal from the prior downtrend.
Neckline Breakout: The neckline of the double bottom at 6.20 USDT has been decisively broken, confirming the bullish pattern.
Ascending Channel: The price is now trading within an upward-sloping channel, with consistently higher highs and higher lows, reflecting strong bullish momentum.
Target Zone: The breakout projects the next resistance zone around 7.60 USDT, aligning with the channel's upper boundary and a key psychological level.
Potential Pullback: A short-term pullback toward the 6.40-6.50 USDT zone (neckline retest) could offer a buying opportunity before the next leg up.
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