🔍 Market Sentiment of$TON
The broader cryptocurrency market experienced a downturn due to geopolitical tensions, with Bitcoin's price dropping from $108,000 to $103,053. Despite this, Toncoin has shown resilience, maintaining its position above key support levels.
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💡 Day Trading Strategy
Bullish Scenario:
Entry Point: Consider entering a long position near $3.25, with confirmation of a breakout above $3.30.
Target: Set a target around $3.50, with a secondary target at $3.77.
Stop-Loss: Place a stop-loss just below $3.00 to manage risk.
Bearish Scenario:
Entry Point: If the price falls below $3.00, consider entering a short position.
Target: Target the next support level at $2.85.
Stop-Loss: Set a stop-loss above $3.30 to limit potential losses.
#TON ⚠️ Risk Management
Given the current market volatility, it's crucial to use proper risk management techniques. Ensure stop-loss orders are in place and avoid overexposure to mitigate potential losses.
Please note that cryptocurrency markets are highly volatile, and it's essential to conduct thorough research and consider your risk tolerance before making trading decisions.