TONUSDT is currently caught in a tight range, and traders are wondering which way it will break out. Let's dive into the chart and see what's happening.
The Symmetrical Triangle:
TONUSDT is currently trading within a symmetrical triangle. This pattern is like a coiled spring, and it could be about to unleash a big move in either direction.
The Bullish Breakout:
For a bullish breakout, TONUSDT needs to break above the descending resistance at $7.20. If this happens, it could signal a major rally towards the major resistance zone at $10.00-$11.00.
The Support Zone:
The $5.24-$4.50 range is a critical support zone. If the price holds above this level, it could provide a base for another bullish attempt. However, a break below this level would be a major bearish signal.
The Wait-and-See Approach:
TONUSDT is at a crossroads. The next move will be crucial in determining the future direction. It's best to be patient and wait for a clear breakout before making any moves.
Remember: This is just a technical analysis, and the market can be unpredictable. Always do your own research and trade responsibly!
Let's see if TONUSDT can break out of this range and reach for the sky! 🚀