3 min readTONCOIN (TON/USD):
As I mentioned last week, I was curious to observe how the price action would unfold once we reached this key area on the daily time frame. At the moment, the price seems to be encountering some resistance at the 50% Fibonacci level. However, given the positive fundamental news circulating, I wouldn’t be surprised to see the price continue to move higher. Overall, the cryptocurrency market appears to be trending upward in the short term.
Looking more closely at the technicals, it’s clear that we’ve broken out of this internal descending trendline. At present, the RSI indicator shows no signs of the move being “overbought.” If the price continues to rise, I expect the next target will be the support area above, around the $7.00 level.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
