$TON 1H level forms a double bottom near 1.3075, RSI drops into oversold territory and shows signs of stabilization. Although the 4H level is still in a downtrend channel, open interest remains stable and the funding rate is negative, indicating a short-term rebound opportunity from short covering. The current price is fluctuating narrowly around 1.317, and a direction will soon be chosen.

🎯Direction: Long (Long)

🎯Entry/Order: 1.3190 - 1.3220 (Reason: Breakthrough of the 1H EMA20 resistance and the upper boundary of the short-term consolidation zone)

🛑Stop Loss: 1.3070 (Reason: Break below recent double bottom low point, with no support below)

🚀Target 1: 1.3450 (Reason: The lower boundary of the previous 4H consolidation platform and EMA20 resistance)

🚀Target 2: 1.3610 (Reason: Previous high resistance level on the 4H chart)

🛡️Trade Management:

- Position suggestion: Light position (Reason: The 4H trend is still bearish, this is a counter-trend rebound play)

- Execution strategy: After reaching Target 1, move the stop loss up to the entry price. Hold remaining positions towards Target 2. If the price cannot stabilize within the entry zone, exit immediately.

Deep logic: Despite the price decline, open interest (Open Interest) remains stable, with no large-scale long liquidation drops. The funding rate of -0.0107% is negative, indicating strong bearish sentiment, but the price was quickly pushed up twice from 1.3075, showing support from funds. The 1H RSI is at 37.94, near oversold levels, indicating a technical rebound demand. Order book data shows heavy sell orders stacked above 1.3179; once broken through, it may trigger short covering.

View real-time market 👇 $TON

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Everyone, what do you think? Is this person still salvageable? There are still many people heavily committed to bottom fishing. Do you think there’s still hope?