TradeCityPro | TON :  From Correction to Potential New Highs
2024-11-24

👋 Welcome to TradeCityPro! 
In this analysis, I will review TON. This coin is associated with Telegram and has seen significant growth after the viral spread of DAPPs on this network, reaching a high of $8.288 and registering a new ATH.

 📅 Weekly Timeframe: Volume Entering During Correction 
In the weekly timeframe, after hitting the $8.024 resistance, the market entered a correction phase. It has now retraced to the 0.382 Fibonacci level. After reaching the $4.743 support, new buying volume entered the market, pushing RSI above the 50 zone.

📊 If the buying volume continues to increase, bullish momentum will return to the market. With a breakout above $8.024, the price could experience substantial growth. The Fibonacci targets after this breakout are $13.966 and $18.719. However, these levels are not guaranteed targets or the final points of the rally. They are used to confirm trend changes.



 📅 Daily Timeframe: Trendline Breakout and First Bullish Wave 
In the daily timeframe, we can see the details of the coin’s correction phase. As shown, a descending trendline formed during the correction. After breaking this trendline and surpassing the $5.499 trigger, the price surged and is now heading toward the $6.922 resistance.

🚀 If you entered after the trendline breakout, I recommend not rushing to sell unless the market shows a trend reversal. However, if you are holding a futures position, you’ve likely already made a good profit. It would be wise to secure some of your gains at this point.

🔽 For now, the next resistance in case of an uptrend is $6.922. If the RSI closes above the 70 zone and more buying volume enters the market, we could see another significant rally, similar to yesterday’s movement.

🛒 For spot entries, the $5.499 trigger has already been broken. Future entry levels include breakouts above $6.922 and $8.165.



 📅 4-Hour Timeframe: Futures Triggers 
Let’s move to the 4-hour timeframe and identify futures triggers. In this timeframe, there is resistance at the $6.422 zone, which recently caused a major rejection. This indicates that the level is very significant and strong.

🔼 If the price tests this zone again, we can consider opening a long position if it breaks. The targets for this move would be $7.008 and $8.165.

📉 If the correction continues, the first support is at $5.619. Additionally, the RSI reaching the 50 level is also a critical point to watch.

 👑 TON/BTC Analysis 
In the 4-hour timeframe, the TON/BTC pair currently has a bearish nature. It has recently crossed above the SMA99 and is now in a pullback phase. The $0.00006512 trigger would be a solid level if it coincides with the $6.422 zone. If this resistance is broken, the primary target will be $0.00007110.

✨ If the decline continues, the only supports are at $0.00005733 and $0.00005488.



 📝 Final Thoughts

This analysis reflects our opinions and is not financial advice. 

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️