The coin successfully completed the bearish Wedge figure and unloaded the bearish diver.
The price instantly fell below the MA200d moving average on an all-time record volume!
This was followed by an immediate buyout that continues to this day.
With this fall, the coin not only formed a sales climax, but also corrected the entire growth momentum since the beginning of the year to almost 0.618 according to Fibonacci.
Most likely, we will never see this coin below $5.2 again.
📚 What's new on the fundamentals?
Needless to say, the $TON coin is backed by a well-known messenger.
The coin is already very tightly integrated into the messenger, so this coin will be forced to grow in the long term.
You can read more about the fundamentals of the TON coin in previous posts.
🎉 Today is an important event for Pavel Durov's coin.
The TON coin is expected to be listed on the world's largest crypto exchange, Binance, today!
It is because of this that the coin has now drawn a nice green stick.
Usually, during the listing, the coin goes into a local correction, as the saying "Buy on rumors and sell on facts" comes into play once again.
Therefore, if a local correction occurs, do not miss the second chance to buy a coin at a discount.
But keep in mind that you can no longer expect the coin to go below $5.2, unless it happens in a very short period of time.
Better think about the other side of the coin 🧠
The coin is listed on an exchange that has a trading volume greater than all other exchanges combined.
In the medium-long term, this is only a positive for the coin in the piggy bank of fundamental reasons for growth, since even more traders will have the opportunity to buy this coin.
🚀 What are the growth goals?
It is too early to talk about a full-fledged start of growth in the coin. There is a possibility that the coin will go sideways for some time.
The main task for the start of growth is a breakout of the MA20w moving average (it occurs in the region of $6.6) and the previous maximum in the region of $8.28.
In this case, the coin will grow to at least $20.7.
Now the main task is to accumulate coins while there are such opportunities.
✔️ Personally, we do not regret that our average purchase point for the coin has shifted from $2.21 to $3.9.
Yes, the average entry point has grown significantly, but the volume in the coin has also grown. And as we said earlier, we do not plan to sell the coin until the end of the bull market.
🤟 Did you like the review or want to better understand cryptocurrencies and technical analysis?
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