TON technical analysis: Bullish momentum could target $7.271 wit
2024-11-12

TON/USDT is currently trading around $5.379. Here’s a breakdown based on the chart:

Key Levels:

$7.271: This is the target for TON, representing potential resistance and a likely point for profit-taking if the price reaches this level. This would signify an approximate 40.5% gain from the current price.
$5.981: An intermediate resistance level that TON must overcome to continue its upward trend toward the $7.271 target.
$5.00 - $4.80: These green shaded areas represent support zones. In the event of a pullback, buyers may enter around these levels to provide support and prevent further decline.
Price Movement:

The chart indicates a potential bullish trend with a rally towards the $7.271 target. This path may involve some consolidation or minor pullbacks before the upward movement continues. It looks as though TON might test the $5.981 resistance level. If TON can break through and sustain above this level, it would increase the likelihood of reaching the $7.271 target.

Market Sentiment:

The recent breakout above support levels suggests rising buying interest, which may signal a shift toward a bullish sentiment for TON. If this trend persists, TON could reach the $7.271 target before the end of the year. However, traders should keep an eye on price action around the $5.981 resistance level.

Conclusion: Based on this technical analysis, TON has the potential to rally to $7.271, a 40% gain, if it can break through intermediate resistance levels. However, rejection at key resistance levels or a dip below support zones may slow down the upward momentum.