THE OPEN NETWORK (TON 4H) The Open Network (TON) is designed as a distributed supercomputer, or “superserver,” intended to provide a variety of products and services to contribute to the development of the decentralized vision for the new internet. A decentralized and open internet, created by the community using a technology designed by Telegram. With an increasing TVL and a growing ecosystem the future looks good for TON.
The TON chart is a very interesting one. Over the last few month it has performed very well despite the overall market conditions.
A near 300% increase since FEB compared to 45% for BTC, and has maintained most of its gains when compared to other altcoins.
The TONBTC chart is one of the strongest out there, massively outperforming BTC in the recent months to maintain a bullish trend.
Both BTC & USDT pairs are above the 4H 200 EMA.
CERTIK top 10 on every category ( Fundamental 80, Operational 92.19, Governance 94.73, Market 95.94, Community 95.38, Code 97.31).
My trade idea based on these points is simple:
- Flipping the 4H 200 EMA as support.
- Flipping the range MIDPOINT as support.
- Respecting the diagonal support trendline.
- After breaking out of the bearish trendline, now retesting it as support.
-The STOP LOSS comes into play once all of the above areas of support and confluence are broken, the trade is obviously invalid at this level once losing market structure, range midpoint & Key S/R level.
The overall trade R:R I feel is good at this point purely because of the clear support areas at this level. I think a lot of this trade will require BTC to behave and continue its recovery, it may be bearish for the BTC pair but not the Stable pair.
