✴️ The Open Network - TONUSDT (Name Your Altcoin #46)

16 feb 2023

The Open Network (TONUSDT) has been in a strong uptrend... Volume has been dropping yet it remains above all the moving averages with a strong RSI, the bullish bias intact.

The chart is pretty young here and this limits our analysis, so I can only share with you few details as we have no long-term data.

The blue levels marked on the chart are for support.

These levels are irrelevant unless there is a strong drop.

As long as TONUSDT is trading above EMA50 ($2.259) and EMA10 ($2.305), we only focus on the bullish side.

Even though we have little history I can still extract some targets.

71% first followed by 125% from the current price.

We have a beautiful ascending channel and a nice bottom pattern June/July last years.

With Bitcoin breaking up strong;
With the Altcoins following suit and moving up;
The Open Network is likely to join the party and also grow.

Regardless of any type of speculation, for trading we prepare by setting some targets and a stop-loss.

If it drops we take action, we also take action if it goes up.

Answering questions such as: What to do if TONUSDT hits $4.000?
Sell, but how much?

What to do if it drops below EMA100 ($2.111)?
Hold, but for how long?
Sell and take the loss?

What if it bounces back and start moving up again?

Visualizing an answer to these questions before-hand can prepare you for all scenarios and help you make better decisions when it matters most.

Thank you for reading.

This is shared exclusively for learning and entertainment purposes only.
Not financial advice.

Namaste.