$TON has recently experienced a significant long liquidation of $5,362.10 at a price of $2.91547. This event has led to a price drop, presenting potential buying opportunities for traders. Here's a detailed analysis of the buy zone, target, and stop-loss levels for TON:
Buy Zone:
The price of TON has declined to approximately $2.91547. This level may serve as a support zone, making it a potential buy zone for traders looking to enter the market.
Target Levels:
If TON's price rebounds from the support level, potential target levels to consider are:
First Target: $3.20
Second Target: $3.50
Stop-Loss:
To manage risk, it's advisable to set a stop-loss order below the support level. For this scenario, a stop-loss at approximately $2.80 would be prudent.
Trading Strategy:
1. Entry Point: Consider entering a long position around $2.91547, where the price has shown support.
2. Targets: Aim for the target levels mentioned above.
3. Stop-Loss: Implement a stop-loss at $2.80 to limit potential losses.
Risk Management:
Ensure that the amount invested aligns with your risk tolerance and overall trading strategy. It's essential to use proper risk management techniques to protect your capital.
Conclusion:
The recent price drop in TON presents a potential buying opportunity at the support level of $2.91547. By setting appropriate target levels and a stop-loss, traders can position themselves to capitalize on a potential price rebound while managing risk effectively.