$TON Long Liquidation Alert: $6.7K Liquidated at $3.425 – What's Next?
The recent long liquidation of $6,708 at the $3.425 level signals a shakeout in the market. This could either be the calm before a bullish storm or the beginning of a deeper correction. Here's a full breakdown with precision levels and strategic planning.
Technical Analysis
Current Market Sentiment:
The liquidation shows weakness among overleveraged bulls, hinting that smart money may be hunting for lower entries. However, this also opens a window for strong hands to accumulate if key levels hold.
Buy Zone (Accumulation Area):
$3.310 to $3.390
This range is a critical demand zone where price historically shows bullish reaction. Watch for strong volume and wicks rejecting lower levels.
Targets:
1. Target 1: $3.480 – Minor resistance, expect partial profit booking.
2. Target 2: $3.570 – Strong resistance from previous consolidation zone.
3. Target 3: $3.680 – Breakout confirmation zone. Closing above this could trigger a trend reversal.
Stop-Loss:
$3.265 (Daily Close Basis)
This is below key support. A daily candle closing under this level might confirm breakdown continuation, invalidating the bullish structure.
Strategy Note:
This is a market for patient traders. If accumulation confirms and BTC remains stable, $TON could bounce hard. However, a breakdown below $3.265 could attract shorters, pushing price toward $3.150.