TradeCityPro | TON: Eyes Breakout from Daily Range Top

👋 Welcome to TradeCity Pro!
In this analysis, I’m going to review the coin TON for you. The TON project is developed for Telegram and operates on a Layer One blockchain, enjoying significant popularity within the Telegram community.

✔️ The coin currently has a market cap of 7.95 billion dollars and ranks 18th on CoinMarketCap.

📅 Daily Timeframe
On the daily chart, as you can see, there’s a range box formed between the levels of 2.851 and 3.513, and price is oscillating between these two zones.

⚡️ I’ve marked the top of the box as a zone as well. This is a major supply zone, and a breakout above it could trigger a bullish trend.

🧩 Personally, I’m watching this coin closely. If buying volume enters and the trigger is activated, I’ll either enter a long position or buy it in spot.

📈 For a long position, the breakout of the 3.513 zone that I marked seems appropriate. If this zone breaks, we can open a long position.

🔍 The target for this position can be set around 4.123. This level is also a good spot trigger. If we enter a long at 3.513 and price moves up to 4.123, we can use the profit from the futures trade to buy this coin in spot.

✨ This way, we’ll have purchased a reasonable amount of the coin using profits, without needing any unusual risk or capital management because the capital was already managed beforehand.

📊 There’s also an ascending trendline visible on the chart that the price has responded to well. If the price gets rejected from the 3.513 zone and breaks this trendline, we can open a short position once the trendline trigger is activated, targeting the 3.024 and 2.851 levels.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️