Why Toncoin Is No Candidate For A Long Trade!

TON has delivered an exceptional performance since March. Moreover, contrary to most of the market, it kept climbing in May and June.

However, the current chart sends some bearish signals that must be incorporated into trading decisions. As a result, I don't consider TON for any long trades at the moment.

Here are the details:
- TON broke below the long-term uptrend on the daily chart. The attempt to climb above the trend line was rejected. On the contrary, TON dove deeper.
- TON printed a bearish cross in the Ichimoku cloud.
- TON dropped below the Ichimoku cloud, and the future cloud turned bearish simultaneously.
- Moreover, the chart shows a double top at the 8.12 level.

Summarized, the amount of bearish signals can't be overlooked. Therefore, it will be interesting to watch how TON performs if the market continues to be bullish.