TONUSD has had a strong bull run as of late, turning the 1D technical outlook green (RSI = 66.857, MACD = 0.238, ADX = 28.071). The consolidation of the past two days is a first indication that we might have reached a medium term peak. In fact it would appear that Toncoin is reproducing the July-September 2022 price action, which after a first peak, pulled back to below the 0.618 Fibonacci level before gradually rising again.
The 1D RSI Double Top is further proof to that. We estimate a pull back near 1.700 (Fib 0.618) to be followed by a new uptrend to the top of the long term Channel Up (TP = 3.200). During this sequence, the HL trendline should hold. Notice also how a MA50-100 Bullish Cross preceded both peaks.
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The 1D RSI Double Top is further proof to that. We estimate a pull back near 1.700 (Fib 0.618) to be followed by a new uptrend to the top of the long term Channel Up (TP = 3.200). During this sequence, the HL trendline should hold. Notice also how a MA50-100 Bullish Cross preceded both peaks.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.