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Key Observations:

  1. Cup and Handle Pattern:
  • The chart shows a clear Cup and Handle pattern, which is a bullish continuation pattern.
  • This pattern is characterized by a U-shaped recovery (the cup) followed by a smaller consolidation (the handle) before a breakout.
  1. Breakout:
  • Toncoin (TON) appears to be breaking out from the handle, suggesting a potential upward move.
  • The breakout is happening above the $7.50 resistance level, which has now turned into a support level.
  1. Price Levels:
  • Current Price: $7.999
  • Support Zone: The blue shaded area around $7.00 to $7.50 serves as a support zone.
  • Resistance Levels: Next potential resistance levels could be around $9.00 and $10.00, as indicated by the projected green path.

    Indicators and Trends:

    • Trend: The overall trend is bullish, as indicated by the Cup and Handle pattern.
    • Potential Targets:
    • The measured move from the depth of the cup to the breakout point suggests potential targets around $9.50 and beyond, as depicted by the green projected path.

    Conclusion:

    • Bullish Outlook: The breakout from the Cup and Handle pattern is a bullish signal. If the breakout holds and is supported by volume, Toncoin (TON) could see a significant upward move towards $9.00 and potentially higher.

    Recommendations:

    • Entry Point: A good entry point could be near the current price of $7.999, with a stop-loss just below the support zone at $7.50.
    • Target Levels: Initial target around $9.00, followed by a longer-term target near $10.00.
    • Risk Management: Ensure to manage risk appropriately, considering the volatility and confirming the breakout with trading volume.

    Caution: Crypto trading involves significant risk due to high volatility. Always conduct thorough research, use proper risk management strategies, and never invest more than you can afford to lose.

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