TON → Strong fundamentals open up bullish potential

30 nov 2023

TONUSDT has been demonstrating excellent fundamental data lately. The market is forming accumulation of bullish potential, which may soon move to the realization phase.

The price is trading under the global descending resistance line. The market continues to form an ascending price channel. It is worth paying attention to the ascending triangle and false resistance breakout. The market does not allow a fall after the false breakout. What is not natural for the standard situation is that after the false breakout, the price forms a small pullback and returns to the 2.520 resistance for a retest.

Clearly, Toncoin is now under the watch of a major buyer. The consolidation may soon move into a distribution phase, provided that the resistance is broken and the price consolidates above the red downtrend line. Moving averages are supporting the market.

Resistance levels: 2.500, 2.600
Support levels: 2.329, 2.228

Bulls can keep the price below the support levels. A retest to resistance will increase the chances of its breakout, which is what I am waiting for. A break of 2.500-2.600 will form a bullish impulse.

Regards R. Linda!