Monday Feb 03 - 2025, 12:32

TON Analysis Time (Feb 3, 2025)

✔️ Key Observations:

➡️ Recent Price Action:

⏺TON experienced a sharp drop, indicating strong bearish momentum.

⏺A temporary recovery (pullback) is observed, forming a consolidation zone near $3.87 - $4.00.

➡️Resistance & Support Levels:

⏺Major resistance: $4.35 – If price moves above this level, a stronger recovery is possible.

⏺Intermediate support: $3.60 – A break below could lead to further downside.

⏺Major support: $3.03 – This is the key downside target in case of a stronger bearish continuation.

➡️ Projected Price Movement:

⏺The yellow pattern suggests a possible fakeout and correction, where the price might retest $3.60, experience a short-term bounce, and then continue downward toward $3.03.

⏺If bulls regain strength and break above the $4.00 - $4.35 zone, a bullish reversal could be confirmed.

✔️ Conclusion:

⏺Bearish Bias: Given the strong initial sell-off and the projected lower high pattern, further downside pressure is likely unless TON reclaims $4.00+.

⏺Key Watch Zones: $3.60 for a reaction, and $3.03 as a critical support.

⏺Traders should watch for a break of either resistance ($4.35) or support ($3.60) to confirm the next trend direction.
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👤Morteza Yazdani

⚠️This isn't a financial proposition, TonRadar solely analyzed TON. (DYOR)

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