$TON Currently, the price is at $1.557.
In the last 24 hours, it has dropped by -1.80%.
Looking at the long-term trend, it's clear we're still in a retracement, trying to mitigate and scoop up all the liquidity left below. However, the price has attempted to poke its head up, which signals that the bulls haven't completely left the game and are still pushing. The only downside is that the volume is pathetic; it's scraping the bottom.
Key support: In the short term, it's around the $1.5240 zone. If the price makes a clean rejection at that level, we can capitalize on a bounce up to $1.5685. At that point, we'll need to check if the movement has strength or if the engine runs out of steam for further climbs.
The ceiling: The resistance to break is at the $1.5981 zone. If the buyers can smash through that ceiling with a solid volume spike, it opens up a clear path to target higher zones.
Risk management: Always consider the risk; in this case, if the price can't break the ceiling and ends up losing that key support, get ready to see a big red candle looking to take liquidity lower. A warning shot doesn't kill a soldier.
In the last 24 hours, it has dropped by -1.80%.
Looking at the long-term trend, it's clear we're still in a retracement, trying to mitigate and scoop up all the liquidity left below. However, the price has attempted to poke its head up, which signals that the bulls haven't completely left the game and are still pushing. The only downside is that the volume is pathetic; it's scraping the bottom.
Key support: In the short term, it's around the $1.5240 zone. If the price makes a clean rejection at that level, we can capitalize on a bounce up to $1.5685. At that point, we'll need to check if the movement has strength or if the engine runs out of steam for further climbs.
The ceiling: The resistance to break is at the $1.5981 zone. If the buyers can smash through that ceiling with a solid volume spike, it opens up a clear path to target higher zones.
Risk management: Always consider the risk; in this case, if the price can't break the ceiling and ends up losing that key support, get ready to see a big red candle looking to take liquidity lower. A warning shot doesn't kill a soldier.