TON/USDT chart suggests a bullish setup: buy at 6.670, target 8
2024-12-05

TON/USDT (Toncoin against Tether). Here's a breakdown of the setup based on the image:

Key Features of the Chart:
Support and Resistance Levels:

The green horizontal lines (e.g., 7.271, 8.006) are likely resistance levels where price may struggle to break above.
The price is currently near a key support zone (marked by green rectangles), indicating a potential buying area.
Trendline and Channel:

A diagonal trendline is drawn upward, suggesting an overall bullish trend.
The price seems to have bounced off this trendline, showing support.
Entry Point:

A buy signal is indicated around the 6.670 level (highlighted with a label).
This suggests that traders are looking for a potential reversal from this area to enter a long position.
Target Zones:

The chart shows a potential upward trajectory aiming for higher resistance levels at 7.271 and possibly 8.006.
These are likely take-profit targets for the trade.
Stop-Loss:

A stop-loss level is marked below 6.588 and closer to 6.393, protecting against a downside move.
Indicators:

Moving averages (yellow and orange lines) are visible, with the price bouncing near the moving averages, signaling potential support.
Projection:

The zig-zag white line suggests an anticipated movement: a short-term pullback, followed by a bullish continuation toward the target zones.
