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Analysis of the asset TON/USDT (1D timeframe):
๐ Technical picture: TON/USDT is forming a descending triangle, narrowing towards the apex โ a typical accumulation pattern before an impulsive move.
๐น Resistance: the descending trend line from above has been holding the price since March.๐น Support: the horizontal zone around $2.65 acts as a key level.
๐ Indicators:
Parabolic SAR - is below the price, indicating an attempt to change the trend upward.
MA 7, 25, 99 โ the price is trading between the short-term and long-term moving averages, signaling consolidation.
Ichimoku Cloud โ price is under the cloud, which is currently acting as a resistance zone ($2.95โ3.15).
๐ Bullish scenario: Consolidation above $2.95 and a breakout of the trendline will open the way to $3.15 and higher. Confirmation will be a breakout of the Ichimoku cloud.
๐ Bearish scenario: A breakout below the $2.65 zone will increase pressure with potential drops to $2.30โ2.10.
๐ Conclusion: TON/USDT is on the verge of breaking out of a multi-month triangle. Control over $2.95โ3.00 is crucial for the bulls. It is recommended to monitor the volumes and the reaction at the boundaries of the figure.