Bearish on TONUSD: 58% to 97% Probability of Hitting TP1!
Toncoin (TON) is currently facing several bearish pressures in the market:
Key Fundamentals
- Declining trading volume indicates waning investor interest
- Price action below key EMA levels (20-day, 50-day, and 100-day) reinforces bearish sentiment
- Recent completion of a Death Cross on the daily timeframe, the first since May 2023, suggests potential for further downside
- Broader cryptocurrency market uncertainty and regulatory concerns are affecting altcoins like TON
I'm employing probability-based analysis on my charts to strategically enter short positions on TONUSD.
3D:
Hourly timeframes:
Please feel free to share your ideas and thoughts!
Key Fundamentals
- Declining trading volume indicates waning investor interest
- Price action below key EMA levels (20-day, 50-day, and 100-day) reinforces bearish sentiment
- Recent completion of a Death Cross on the daily timeframe, the first since May 2023, suggests potential for further downside
- Broader cryptocurrency market uncertainty and regulatory concerns are affecting altcoins like TON
I'm employing probability-based analysis on my charts to strategically enter short positions on TONUSD.
3D:
Hourly timeframes:
Please feel free to share your ideas and thoughts!
Trade closed: stop reached
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