Technical analysis by Rogcrypto about Symbol TON: Buy recommendation (4/12/2025)

📈 Price Action Overview:Asset: USDT Pair (Exact asset not specified, assuming it's a crypto token)Current Price: ~$2.99Previous High: ~$4.08Swing Low: ~$2.36🔍 Chart Patterns & Structure:Rising Wedge (Bearish Breakdown)Formed after the impulsive rally from $2.36 to $4.08.Price broke down from the wedge, confirming bearish sentiment and starting a corrective phase.Descending Triangle / Falling Wedge (Potential Reversal)Price consolidating around the $2.8 - $3.0 region.A slight bullish divergence seen (explained in RSI section).🔢 Fibonacci Retracement Levels:Drawn from swing low ($2.36) to swing high ($4.08):0.236: $3.580.382: $3.310.5: $3.100.786: $2.651.0: $2.36 (full retracement)Currently trading between 0.786 and 0.5 Fib zones, in a key support area.🟣 Support & Resistance Zones:Major Resistance:$4.08 (swing high)$3.58 - $3.60 (Fib 0.236)Current Resistance:$3.10 (Fib 0.5)$3.31 (Fib 0.382)Support Zone (highlighted purple):$2.80 (horizontal support)$2.65 (Fib 0.786)$2.36 (previous low)📊 RSI (Relative Strength Index):Current RSI: 49.16 (Neutral zone)Key Observation:Bullish Divergence: RSI made higher lows while price made lower lows around April 7–12.Trendline Support on RSI: An ascending trendline suggests building bullish momentum.May hint at a short-term reversal or bounce.🔮 Potential Scenarios:Bullish Case:Bounce from $2.8-$2.9 support area.Break above $3.10 = likely push to $3.31 or higher.RSI breaking above 50 would confirm bullish momentum.Bearish Case:Failure to hold above $2.80 support.Breakdown toward $2.65 or even $2.36 (swing low).RSI dipping below the rising trendline = loss of bullish strength.✅ Conclusion:Currently in a critical demand zone.Early signs of a bullish reversal forming (thanks to RSI divergence).If buyers hold $2.80 and push past $3.10, a short-term uptrend is likely.Watch volume + RSI for confirmation.