Long

TONUSDT Potential Buy Opportunity

Updated

TONUSDT has formed a double bottom below the crucial 5.00 level and subsequently rebounded, closing above it. However, recent price action shows signs of weakening, as indicated by bearish divergence, which suggests the possibility of a pullback. Historically, the price has been consolidating within the 5.0 to 6.0 range, forming a triangular pattern. This implies that the market could stay confined within this range for a while. The price might pull back toward the key support level, potentially treating the double bottom as a false breakout. The target is the resistance zone around 5.90

Trade closed: target reached

Price increased over 6.5% after the analysis was published

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