TONUSDT saw a significant drop following Durov's arrest, falling below the May low. However, the price has since formed a false breakout below this key monthly low. After dipping under the psychological level of 5.00, the market appears to be forming an accumulation zone. It has retraced 50% of the range established between June 2023 and July 2024, with an overall correction of about 45%. There is still a chance the price could dip further, reaching a 50% correction. However, with a strong support level in place and noticeable divergence, there is potential for a gradual upward move, signalling a possible reversal and buying opportunity. The target is the resistance zone at 6.00
Note
Price moved as expected and increased around 19% since the analysis was published!
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.