The Open Network's native token, TON, has recently bounced back, rising 3.7% after finding solid support above the $3.10 mark. This recovery occurs against a backdrop of market volatility influenced by geopolitical tensions and trade disputes. Technical analysis indicates a V-shaped recovery with price fluctuating around a $3.21 peak before stabilizing. Analysts note a bullish trend as strong volume support formed at $3.11, with buyers stepping in during recent hourly candles. The token reclaimed the $3.15 level, although a decrease in volume suggests a period of consolidation. Following this, TON surged from $3.12 to $3.15, marking a decisive breakout upon surpassing the $3.14 resistance with significant volume backing. Ongoing market conditions and a symmetrical triangle pattern suggest potential further upside, with some analysts forecasting a 40% price movement in either direction if current trends persist. As the market navigates through global uncertainties, this recovery signifies resilience for TON amidst broader market fluctuations.
TON Rallies 3.7% in V-Shaped Recovery After Support Found at $3.11
TON's recent surge comes as the token establishes critical support at $3.11 amid volatile market conditions, suggesting potential bullish momentum ahead.
Jamie Bennett
Crypto Analyst
4 min read
36,242
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
TON
TON
BUY
Entry Price
$3.15
Confidence
850%
Stop Loss
$3.05
Take Profit
$3.25 - $3.4
The news indicates strong bullish momentum for TON following a significant recovery from support, justifying a buy.
