$TON / USDT – Showing Signs of Consolidation Near Highs! ⏳
$TON is currently trading at $3.333, showing a gain of +1.43%. The 4-hour chart indicates that after a recent upward move, the price is now consolidating near the 24-hour high. This could suggest a pause before the next move.
Potential Scenario:
Observation: $TON has shown bullish momentum and is now trading sideways below the 24-hour high. A break above this level could signal further upside.
Possible Trade Considerations (Watch for Breakout):
Entry: Consider potential entries on a confirmed break above $3.385 with increasing volume. Alternatively, look for support to hold around $3.32 for a potential bounce play if the breakout fails initially.
Target 1 (if breakout): $3.40
Target 2 (if breakout): $3.45
Final Target (if breakout): $3.50+ (testing previous highs)
Stop Loss (if breakout entry): Place a stop-loss below the breakout level, perhaps around $3.37.
Stop Loss (if bounce entry): Place a stop-loss below the $3.32 support, perhaps around $3.30.
Key Observation: The $3.385 level is crucial. Monitor for strong buying volume on any attempt to break through it to confirm the breakout.
Remember to conduct your own thorough analysis before making any trading decisions. Have a good Monday afternoon here in Multan!
