"TON's Volatile Dance: $3.585 to $3.285, Breakouts and Reversals Await"

Toncoin (TON) has been fluctuating between $3.585 and $3.285, raising questions about the potential for an upward spike. Let's delve into a detailed price analysis of TON to determine key support and resistance levels and explore possible scenarios for upcoming trading sessions.

On March 2nd, at 08:40 UTC, TON broke out from a converging triangle, marking the day's low at $3.285. The breakout formed a spike and a minor channel, which broke out to the upside at 09:30 UTC. However, this time, the spike did not form a channel and instead created a converging triangle. At 09:30 UTC, the Relative Strength Index (RSI) moved above the level of 70, indicating an overbought area and suggesting a potential reversal or correction.

The correction formed a converging triangle, which broke out to the downside at 13:25 UTC, forming a spike and channel pattern. At 13:30 UTC, the RSI dropped below the oversold level of 30, indicating a possible reversal or correction. At 14:50 UTC, the price broke out from the channel to the upside, confirmed by the golden crossover of the Moving Average Convergence Divergence (MACD), which pushed the price higher. However, at 15:35 UTC, the RSI had already marked the overbought level, suggesting a potential reversal or correction.

At 17:30 UTC, a death cross appeared in the MACD, further indicating that the price might drop. The price fell to the level of $3.415 but then broke out to the upside from a downward trendline at 19:00 UTC. The price formed a spike, but instead of forming a channel, it established a range. This range broke out to the upside at 21:40 UTC. However, this time, the price was unable to form a spike and instead formed a channel, suggesting that the upward breakout was not strong.

The price established a range and broke out to the downside at 00:00 UTC on March 3rd. This time, the price showed a spike and a channel pattern. At 01:30 UTC, the RSI