In my previous analysis, some individuals misunderstood this token. They thought my analysis was a prediction of the future and believed it must be accurate. However, they did not realize that I am an analyst, not a fortune-teller, and any analysis can be incorrect or correct.
However, the current conditions for the Tomo token are as follows:
We are witnessing a downward channel, confirmed by the descending pivots I identified on the chart. How far this downward trend can continue, I do not know. But in the past few days, we have seen heavy selling pressure, leading to a further decline of over 40% for this token.
Someone claimed that the development team is selling, but I couldn't find any information to support this.
The current price is positioned on the lower trendline of the downward channel, which could potentially cause a price rebound. Additionally, due to the selling pressure in the past few days, an unbalanced price zone, known as a fair value gap (FVG), has been created. This zone needs to be filled, and in most cases, the price will return to this zone.
Based on this assumption, I see a possibility of price increase with an entry point at 1.055 and a movement towards 1.30, followed by another price decline.
However, I must reiterate that this is solely my analysis and it could be entirely incorrect.
⚠️"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
Don't forget to like and comment
However, the current conditions for the Tomo token are as follows:
We are witnessing a downward channel, confirmed by the descending pivots I identified on the chart. How far this downward trend can continue, I do not know. But in the past few days, we have seen heavy selling pressure, leading to a further decline of over 40% for this token.
Someone claimed that the development team is selling, but I couldn't find any information to support this.
The current price is positioned on the lower trendline of the downward channel, which could potentially cause a price rebound. Additionally, due to the selling pressure in the past few days, an unbalanced price zone, known as a fair value gap (FVG), has been created. This zone needs to be filled, and in most cases, the price will return to this zone.
Based on this assumption, I see a possibility of price increase with an entry point at 1.055 and a movement towards 1.30, followed by another price decline.
However, I must reiterate that this is solely my analysis and it could be entirely incorrect.
⚠️"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
Don't forget to like and comment
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