TON USDT Price Reversal: Explosive Move Incoming?
The price action of the TON USDT pair on a 4-hour timeframe. A clear downtrend is marked by a descending trendline, approximately the is under this trendline from 4 December. Several key horizontal support and resistance levels are highlighted, including resistance zones Pink at $7.293 – $7.163 and resistance zone Blue at $6.539 – $6.460, and support levels Green at $5.089 – $5.132.
The price recently tested the lower support zone and bounced back, approaching a confluence zone where it faces resistance from both the descending trendline and the resistance zone Purple at $5.446 – $5.504.
If the price of Ton Usdt breaks through from this Purple zone with volume it could reach the next resistance level at $5.978.
If the price of Ton Usdt is rejected from this Purple zone and the descending trendline we would see a pullback to the support zone Green.
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