Technical analysis by TopGBanks about Symbol TON: Buy recommendation (8/10/2024)

The 1-hour chart for TON/USDT on Binance reveals a clear bullish trend, characterized by a series of higher highs and higher lows. The price action has formed a distinct ascending structure, with each pullback being met with strong buying interest, as indicated by the red support lines.The current setup shows that the price is consolidating after a strong upward move, forming a small pullback that aligns with previous support levels. This pattern suggests a potential continuation of the bullish trend, with a key resistance level at $7.00 acting as the next major target.If the price breaks above the recent highs and continues its upward momentum, a rally toward $7.00 could be expected.