Toncoin Gains 20% in a Month During Rally

After three weeks of strong bullish momentum, the cryptocurrency market has entered a bearish correction phase, presenting traders with strategic entry opportunities.

Among these, Toncoin stands out as a compelling option, offering favorable entry points and three key profit-taking levels that provide clear benchmarks for maximizing gains based on individual trading strategies.

Daily time frame analysis

TONUSD - 1 Day Time Frame

In our technical analysis framework, we use two primary trading models: one targets trend reversals, while the other focuses on continuation of the prevailing trend. For Toncoin, the current setup aligns with the latter.

The price has formed a robust support zone, visible on the daily timeframe and highlighted in blue on the attached chart. This zone reinforces the bullish internal structure and serves as a critical entry point for traders aiming to ride the upward trend.

Toncoin price target

Effective trading goes beyond identifying entry points—it requires disciplined execution and robust risk management. To manage risk, you may place a Stop Loss just below the internal higher low, protecting against potential losses, and set Take Profit levels at the identified key benchmarks.

Toncoin’s three profit-taking levels offer flexibility for traders. You can either incrementally withdraw partial profits at each level or close your entire position at the optimal point. This method allows traders to balance risk while capitalizing on potential gains.

By staying disciplined and adhering to these strategies, traders can approach Toncoin with confidence, leveraging its favorable setup to maximize returns during the correction phase.