To @DAO Labs #SocialMining #TCHub , recent market responses are actively under examination because, with previous attempts at resistance stalling, $TON , monitored by the members of @Ton Network , is trying again to establish a key level of support. Such technical behavior helps to know the sentiment of the asset.
The previous week when the challenge to the resistance was tried there was a draw back due to the tightening conditions of the wider market. At this point, #TON is trading close to a critical trendline support, an area that buyers frequently evaluated the accumulation process, which indicates that the price is about to reach it. Technical indicators suggest that an uptrend may result in a retest of the red zone of resistance, on condition of a more positive market background.
Nonetheless, in the case of the further strengthening of bearish mood, the lower support zone is a feasible scenario. Responding to this, most stakeholders to the Social Mining system are appraising the cost-averaging technique as a measure of exposure to exhibiting excessive conviction. The distinguishing characteristics of this assessment are the proactive and community-based perspectives, with which the ones contributing to #DAOLabs process the information obtained, focusing rather on objective assessment than supposition.
In a nutshell, it is the subsequent action to be taken by the $TON that will probably determine the equilibrium between the structural support and outside market influence. The emphasis in the TON Hub is still on reasonable signals and sustainable positioning and proximity to long term technical orthodoxy should not get lost in the short term volatility.
