TONUSDT Ready For More Downward Move | Bearish Vibes All Over

4 Tem

Yello, Paradisers! Have you been keeping an eye on Toncoin (#TON)? Our latest analysis suggests a critical moment is approaching. Let’s dive into the details.

💎#TONUSDT has been trading within a rising wedge formation on the 1D timeframe. This pattern typically signals a potential bearish reversal. Currently, #Toncoin is testing the rising wedge's lower support level, and there is a possibility that it might drop further if this support breaks.

💎The ascending resistance and the rising support form a rising wedge pattern. This pattern is generally bearish which indicates that the current uptrend might be coming to an end.

💎The strong resistance zone is marked at $8.310. If #TON fails to break above this level, the bears might take control, leading to a downward move. If this happens, the immediate support level to watch is $6.255.

💎If TON breaks below this level also, the next significant support lies in the major support zone between $4.607 and $4.381. This area is critical as it can provide a good chance of a pullback if tested.

💎In a scenario where the current ascending support of the rising wedge doesn't break and TON breaks above the resistance zone marked then Bulls will take over

Stay focused, patient, and disciplined Paradisers

MyCryptoParadise
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