TON/USDT chart suggests a bullish setup: buy at 6.670, target 8
TON/USDT (Toncoin against Tether). Here's a breakdown of the setup based on the image:
Key Features of the Chart: Support and Resistance Levels:
The green horizontal lines (e.g., 7.271, 8.006) are likely resistance levels where price may struggle to break above. The price is currently near a key support zone (marked by green rectangles), indicating a potential buying area. Trendline and Channel:
A diagonal trendline is drawn upward, suggesting an overall bullish trend. The price seems to have bounced off this trendline, showing support. Entry Point:
A buy signal is indicated around the 6.670 level (highlighted with a label). This suggests that traders are looking for a potential reversal from this area to enter a long position. Target Zones:
The chart shows a potential upward trajectory aiming for higher resistance levels at 7.271 and possibly 8.006. These are likely take-profit targets for the trade. Stop-Loss:
A stop-loss level is marked below 6.588 and closer to 6.393, protecting against a downside move. Indicators:
Moving averages (yellow and orange lines) are visible, with the price bouncing near the moving averages, signaling potential support. Projection:
The zig-zag white line suggests an anticipated movement: a short-term pullback, followed by a bullish continuation toward the target zones.
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