$TON (Toncoin)
➡️ Direction: SHORT 🔴
Entry: $2.299 – $2.315
Take Profit: $2.260 / $2.210
Stop Loss: $2.360
Market Condition and Rationale:
On the 1-hour candlestick chart, there's a solid bearish trend in play. The price is trading below all key moving averages (EMA 7, 25, and 99), which have aligned in a descending cascade, indicating strong selling pressure. The RSI(6) is sitting at 36.6, confirming the bearish momentum without signs of an immediate reversal. The short position is viewed as a continuation of the trend targeting a retest of the local minimum at $2.262 and liquidity removal below this level.
Trade $TON 👇
➡️ Direction: SHORT 🔴
Entry: $2.299 – $2.315
Take Profit: $2.260 / $2.210
Stop Loss: $2.360
Market Condition and Rationale:
On the 1-hour candlestick chart, there's a solid bearish trend in play. The price is trading below all key moving averages (EMA 7, 25, and 99), which have aligned in a descending cascade, indicating strong selling pressure. The RSI(6) is sitting at 36.6, confirming the bearish momentum without signs of an immediate reversal. The short position is viewed as a continuation of the trend targeting a retest of the local minimum at $2.262 and liquidity removal below this level.
Trade $TON 👇