TONUSD: Descending Triangle Breakout Setup, Targets Confirmed!

Hello There,

welcome to my new analysis about TONUSD on the weekly timeframe perspective. In recent times I have detected interesting altcoin setups in the market that are likely to turn out to be profitable trade realizations. This is an approach I am following in the cryptocurrency market to realize surplus returns from altcoins that perform better than the overall market. Often I catch the indicators earlier and then enter into trades when the confirmations arise.

As when looking at my chart, we can watch there how TONUSD is forming this gigantic descending triangle formation. Within this formation, TONUSD has already completed the wave count and recently increased bullish momentum. This bullish momentum, together with the bullish volume increase, was the origin of the final breakout above the upper boundary of the descending triangle formation. The settlement above the 20-EMA is a strong bullish signal for continuation.

The breakout has activated several bullish target zones, which are seen in my chart. The first target zone lies within the 3.2 area. Once this zone has been reached and TONUSD continues with further bullish momentum, the next target zone will be within the 5.5 area. There is also an increased on-chain activity momentum, with increased network activity. This is additionally adding bullishness to the overall TONUSD evolutions.

In this manner, thank you a lot for watching!
What do you think about TONUSD?
Let us know in the comments!

VP