TONCOIN Bulls Defend Key Demand Level

TON Market Analysis – June 11

TONCOIN bulls have successfully defended the demand level of 2.8920 since April. This consistent defense has led to the consolidation of price just above this zone, indicating that buyers are actively preventing further downside. As a result of this prolonged sideways movement, a symmetrical triangle has formed. A breakout is now looming, as the price action continues to tighten and narrow within the triangle’s structure.

Toncoin Key Levels

Demand Levels: 2.80390, 2.35750, 1.87180
Supply Levels: 4.09000, 4.67370, 5.66090

TONCOIN Long-term Trend: Ranging

TONCOIN’s previous bearish motion halted suddenly and reversed at 2.35750. From this level, the price rallied aggressively, surging to reach 4.09000. This impulsive bullish move created a broad inefficient price region and culminated in a double top formation at the 4.09000 resistance zone. The speed and strength of the upward move initially signaled the potential start of a new bullish trend. However, the momentum failed to sustain, and the price retraced back into the inefficiently traded region.

After filling the fair value gap that bottomed at 2.80390, the market entered a chronic sideways motion that has now persisted for three months. During this phase, price action has remained trapped within a tight range. The Moving Averages (periods 30 and 50) have consistently intertwined on the body of the daily candles, further indicating indecision and range-bound trading behavior.

TONCOIN Short-term Trend: Ranging

A breakout from the symmetrical triangle is expected to determine the next significant market move. Traders should be cautious and confirm any potential breakout with reliable technical indicators or multi frame analysis. This approach helps to reduce the risk of falling for a false breakout, which is common in tight consolidation phases.

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