Lingrid | TONUSDT Post-Black Swan PRICE Analysis

6 Sep

TONUSDT experienced a significant decline following Durov's arrest, dropping below the May low. However, the price has made a false breakout of this important monthly low. After falling below the psychological level of 5.00, I believe the market may be forming an accumulation zone. The market has retraced 50% of the range between June 2023 and July 2024 and has seen approximately a 45% correction. There is potential for prices to decline further, possibly reaching a 50% correction. Nevertheless, I anticipate that the market will gradually move upward, given the presence of a strong support level and noticeable divergence, which could indicate a potential reversal and buying opportunity. My target is resistance zone at 6.00


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