ðĨToday, I want to analyze the Toncoin(TON) project for you. I chose this project because the Notcoin(NOT) token is listed in several exchanges today.
ðĄYou might ask, what does the NOT token have to do with the TON tokenâïļâ
ðPlease be with me
ðWhat is Notcoin(NOT)âïļâ
ðļAround 2018, Telegram developers decided to launch their own layer 1 Blockchain called "Telegram Open Network," or Toncoin (TON). After some time, the development and maintenance of this project were entrusted to the TON Foundation, and now a team affiliated with TON has unveiled its new and loud project called Notcoin (NOT).
ðļNotcoin (NOT) is a "Play-To-Earn" or P2E cryptocurrency game where users can earn money by playing. Notcoin (NOT) has attracted the attention of a large number of users from the very first days of its introduction.
ðĄToncoin(TON) started falling well from the Resistance lines.
ðAccording to the Elliott wave theory, Toncoin(TON) has completed the second corrective wave, which had a Zigzag(ABC) structure on the Resistance lines.
ðĄAlso, we can see Regular Divergence(RD-) between two Consecutive Peaks.
ðĄAnother sign that Toncoin(TON) may continue to fall is that the "SELL signal" was issued by moving SMA(50) and EMA(50).
ðBefore the result, let's take a look at the TONBTC chart.
ðIt seems that TONBTC has managed to complete 5 impulse waves, and we have to wait for corrective waves now, which means that if Bitcoin starts a downward trend, the TON token will be more affected, and if Bitcoin goes up. If it has, the TON token will take a less upward trend or even become Range.ð
ðI expect Toncoin(TON) to continue to fall at least to the ðŊTargetsðŊ I have outlined on the chart(ðĻâ30%ðĻ).
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Toncoin(TON) Analyze (TONUSDT), Daily time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
ðĄYou might ask, what does the NOT token have to do with the TON tokenâïļâ
ðPlease be with me
ðWhat is Notcoin(NOT)âïļâ
ðļAround 2018, Telegram developers decided to launch their own layer 1 Blockchain called "Telegram Open Network," or Toncoin (TON). After some time, the development and maintenance of this project were entrusted to the TON Foundation, and now a team affiliated with TON has unveiled its new and loud project called Notcoin (NOT).
ðļNotcoin (NOT) is a "Play-To-Earn" or P2E cryptocurrency game where users can earn money by playing. Notcoin (NOT) has attracted the attention of a large number of users from the very first days of its introduction.
ðĄToncoin(TON) started falling well from the Resistance lines.
ðAccording to the Elliott wave theory, Toncoin(TON) has completed the second corrective wave, which had a Zigzag(ABC) structure on the Resistance lines.
ðĄAlso, we can see Regular Divergence(RD-) between two Consecutive Peaks.
ðĄAnother sign that Toncoin(TON) may continue to fall is that the "SELL signal" was issued by moving SMA(50) and EMA(50).
ðBefore the result, let's take a look at the TONBTC chart.
ðIt seems that TONBTC has managed to complete 5 impulse waves, and we have to wait for corrective waves now, which means that if Bitcoin starts a downward trend, the TON token will be more affected, and if Bitcoin goes up. If it has, the TON token will take a less upward trend or even become Range.ð
ðI expect Toncoin(TON) to continue to fall at least to the ðŊTargetsðŊ I have outlined on the chart(ðĻâ30%ðĻ).
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Toncoin(TON) Analyze (TONUSDT), Daily time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
āļāļēāļĢāļāļ·āđāļāļāļēāļĒāļĒāļąāļāļāļāļāļģāđāļāļīāļāļāļĒāļđāđ
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
The Head and Shoulders pattern is well visible in the 4-hour time frame (another sign of TON decline).
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
As I expected, TON is moving, and support ahead could be 50_SMA(Daily) and 50_EMA(Daily).
As I expected, TON is moving, and support ahead could be 50_SMA(Daily) and 50_EMA(Daily).
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
TON reacted well to the Downtrend line; even if it breaks, the analysis is still valid.
TON reacted well to the Downtrend line; even if it breaks, the analysis is still valid.
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