- TONCOIN has maintained its daily market structure.
- Recently, the bounce of bounce has given the bull.
Toncoin (ton) holders were mostly not good. According to the data, 96%of the holders were underwater, but tokens have seen 25%price bounce over the last four days.
However, the seriousness of the decline in the daily chart did not stop.
How high can the bounce can go now? The level of resistance of $ 3.85 was one of the main candidates for the weak reversal.
AMBCRYPTO surveyed the relevant liquidation heat maps to understand Ton’s potential price movement.
Tone coin goes up to $ 3.6 before the weak reversal
Source: TradingView Ton/USDT
In February, the recent $ 3.95, the latest low, has been a potential price goal of tone in the future. MACD was maintained below zero but formed a strong strength.
It was a response to the rapid benefits of recent profits, but the general trend of this period remained weak.
Recently, however, the high trading volume has seen a jump higher than the lowest in December. In doing so, it raised hope for optimistic movements.
The FIBONACCI RETRESSION level was ploted based on the rally from February to June 2024. More than 78.6% of bounce was encouraged in the short term, but there was a resistance overhead.
To affect the optimistic market structure change, you must violate the $ 3.95 goal.
Even if this happens, the $ 4.5 area will serve as a supply zone. Overall, the likelihood of recovering tone was thin.
Source: COINGLASS
The one -month liquidation rod emphasized the liquidity pocket at $ 3.66 and $ 3.9. The electronics level was Saturday, and the latter recorded a low price a month ago.
These two levels were the main candidates for starting a weak reversal.
Source: COINGLASS
Enlargement of a weekly hit map shows that the level of $ 3.2 and $ 3.67 should be careful. The liquidity of about $ 3.2 was similar to about $ 3.6.
Ton was more likely to go up to sweep the liquidity before Ton fell to $ 3.2 because the $ 3.6 is getting closer.
The swing trader aims to wait for such a movement and find a reversal for a lower period and go back to the move. In general, this strong reversal has a good opportunity to happen on Monday.
If you move to more than $ 3.7, the idea that returns to find liquidity will be invalidated to $ 3.2.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.