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 breaks through from this Purple zone with volume it could reach the next resistance level at $5.978.
If the price is rejected from this Purple zone and the descending trendline we would see a pullback to the support zone Green.
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 breaks through from this Purple zone with volume it could reach the next resistance level at $5.978.
If the price is rejected from this Purple zone and the descending trendline we would see a pullback to the support zone Green.
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TON successfully breaks through from the trendline and the resistance zone 
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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.