TON: Important Technical Analysis in a Daily Timeframe!

Hello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

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.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#TON #Toncoin