TON: Important Technical Analysis in a Daily Timeframe!

25 Agu

Hello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:

After the latest news about the founder of Telegram, TONCOIN faced a sharp 20% drop in its price. The price is currently hovering at $5.86, and the recent decline raises concerns among traders and investors.

Here's my technical analysis of TONCOIN on a daily timeframe.

TON has an important support trendline around $5.34, which it must hold to stay in the game. If a rebound occurs, TON will likely test the blue dotted resistance trendline, potentially leading to bullish momentum.

The lower support at $4.636 will be the crucial level for TON to hold if we see a further decline.

Given the negative experiences from past incidents, be cautious and conduct thorough research before investing.

Key Levels:

- Support Trendline: $5.2556 to $5.6458.
- Lower Support: $4.836.
- Primary Resistance: $6.452.
- Bullish Move: A close above the primary resistance and 50 EMA.
- Bearish Move: A close below the lower support.

DYOR, NFA.

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#TON #Toncoin