How to view TON short-term trading trend
Token name: TON
Current price: $5.24
📊 Market sentiment analysis
TON's recent news sentiment is mixed, and the positive sentiment on October 11 indicates solid buying at lower levels.
Previous news on October 8 highlighted the decline in TON's price, indicating some stagnation in the market.
Overall, sentiment seems cautiously optimistic with upside potential.
📈 Technical analysis
The RSI is currently at 59.55, indicating neutral to slightly bullish momentum as it is below the overbought threshold of 70.
The Bollinger Bands show that the current price is close to the upper limit, indicating possible resistance and a possible pullback.
The pivot point is at $5.237, and the current price is slightly above this level, indicating a possible bullish bias if it is maintained above this level.
DMI shows a positive trend, with ADX at 27.38, PDI at 20.22, and MDI at 13.30, indicating a strong trend.
The MACD histogram is slightly negative, indicating a possible bearish crossover, but the values are close, indicating indecision.
The KDJ indicator shows mixed signals with K at 54.71, D at 59.42, and J at 45.31, indicating possible consolidation or slightly bullish.
💡 Recommendations and Trading Strategies
If the price holds above the pivot point at $5.237, consider going long with a target near the resistance level of $5.271.
For short-term trading, monitor the price action around the Bollinger Bands and the pivot point for potential entry and exit points.
Given the mixed technical indicators and market sentiment, the confidence in the current trend is moderate.
Based on the technical resistance and support levels, a take profit at $5.27 and a stop loss at $5.22 are recommended.
Technical analysis is based on the 1-hour candlestick chart indicator. Users who like short-term trading can refer to it.
Once again, the current market is volatile, so make sure to stop profit and stop loss. The analysis is for reference only, DYOR!