TON/USDT: Coiling for a Major Expansion

May 10

Hi!

Technical Breakdown: The Pennant Structure
After the initial vertical rally, TON has entered a "pennant pattern," characterized by converging trendlines and diminishing volume. This structure indicates that the market is in equilibrium, with bulls and bears waiting for a catalyst to break the stalemate.

Resistance Area ($2.88): This remains the primary barrier. The pennant is forming just below this supply zone, suggesting that a successful breakout will likely have enough momentum to clear this level with ease.

Next Support ($1.95): Below the current consolidation, the $1.95 mark stands as the most significant "Next support" level. This area aligns with the previous accumulation zone before the big pump began.

Forward Scenarios
As we approach the apex of the pennant, we are looking at two distinct paths:

1. The Bullish Breakout (Primary Trend Continuation)
If TON "breaks up the pennant pattern," the measured move targets the $3.786 - $3.801 range. This would represent a continuation of the macro bullish trend, potentially triggered by a clean hourly close above the upper trendline and the $2.88 resistance.

2. The Bearish Breakdown (Deep Retracement)
Conversely, "if it breaks down the pennant pattern," we should expect a sharp correction. The technical target for a breakdown is the $1.954 - $1.962 support zone. This move would essentially "fill" the previous pump area, allowing the market to reset before attempting another rally.

May 11

Trade active

The bottom line of the triangle is broken!
target 1: $2.07

May 16

Trade closed: target reached