TONUSD Daily Outlook

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TONUSD showed a minor sell-off after a nice pullback

Any daily close above $8 confirms further bullishness.

TONUSD pared more than 20% after forming a minor top around $8.28. The pair holds above the short-term (21EMA, 55 EMA and below the long-term moving average in the 4-hour chart. It hit a high of $6.46 yesterday and is currently trading around $6.81.

The bullish invalidation can happen if the pair closes below $4.50. On the lower side, the near-term support is $6.45. Any close below targets $6/$5/$4.50/$3.78.

The pair's near-term resistance is around $7.20. Any breach above confirms minor bullishness. A jump to $8.30/$9/$10 is possible. A surge past $10 will take it to $12.

It is good to buy on dips around $6.50 with SL around $5.80 for TP of $10.

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