This is a significant breakout for $TON , as shown in the chart. The price has surged by over 20%, reaching a high of $3.514, before slightly retracing to $3.475.
Key Observations:
Massive Green Candles: The strong upward momentum indicates aggressive buying pressure, likely fueled by fundamental catalysts (such as the legal case issue you mentioned earlier).
RSI at 96: This is an extremely overbought condition, signaling that a short-term pullback or consolidation might occur soon.
Stochastic RSI at 100: This further confirms an overbought state, but it can stay elevated during strong bullish trends.
Volume Surge: The 24-hour volume shows 18.90M TON traded, a strong indication of heightened market activity.
Possible Scenarios:
1. Continuation: If momentum sustains, we could see a push past $3.514 toward $3.60-$3.80 as new liquidity enters.
2. Pullback and Retest: Due to overbought indicators, a dip toward $3.30-$3.20 could offer a re-entry opportunity before the next leg up.
3. Fakeout and Dump: If this rally is purely news-driven and not backed by strong accumulation, a sharp correction toward $3.00 or lower could follow.
Trading Strategy:
For Longs: Wait for a pullback before re-entering.
For Shorts: A rejection near $3.50-$3.55 could provide short-term shorting opportunities.
Risk Management: Given the volatility, using stop-loss orders is crucial.
This pump aligns with your earlier analysis regarding the TON case resolution impact, making it a significant trade for those who followed your signals.