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In mid-August, I had an explanation about the reason for collecting $TON (you can see more here!). š
There are many reasons why I appreciate TON, but the key is still the project's position associated with Tele, an application with nearly 1 billion global users, along with the excitement of the TON system since the beginning of 2024. š I think MM will continue to push the price after yesterday's FUD about founder Pavel Durov, and the opportunity for those who still have USDT may be coming soon.
However, what makes me hesitate is the reasonable price to buy TON. From Q3/2023, TON price increased by 600%, from the bottom of $1.4 to the peak of $8, so the price adjustment is understandable, the problem is how far can the adjustment be to start investing???
š¤Here are the tricks I often use to find buyback areas for tokens that have completed a pump wave like TON, please refer to them!
šµMETHOD 1: Find past price support levels
Binance has just listed TON, so there is not much price history on the exchange. You can turn on the chart on CMC to see the full price movement from December 2021. Also in this year, TON had a big growth and peaked at 4u, then decreased to 2u and continued to move sideways for nearly 2 years. Thus, $4 is a fairly strong support level, you can consider buying TON.
šµMETHOD 2: Using Fibonacci
You guys probably heard a lot about the Fibonacci indicator, but to be honest, applying it effectively depends on each person's experience, the methods in books are for reference only.
In the case of TON, I will drag from the peak of the wave (with TON being 8u), down to the SUDDEN PUMP price zone. Remember, it is not the lowest price zone on the chart, but the sudden HOT PUMP price zone. (see picture).
Thus, the 2 important Fibo levels used to watch the bottom of the correction wave will be 0.382 (TON 4.6$) and 0.236 (TON 4$), also approximately the support level of 4$ as the result of Method 1 above.
šµMETHOD 4: Based on valuation level
This means you can compare TON with other competitors in the same segment in the market, see where they are priced, and project it to TON to predict the capital area that the project can fall to.
Accordingly, I think a capitalization of less than 10 billion USD may be suitable for collecting TON, corresponding to the $4 area.
šIn short, all methods show that $4 is a potential price. So when the price reaches here, I will consider starting to collect.
If anyone is also aiming for TON or is at the top and wants to DCA, please comment below!
