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Buyers await TonCoin at the Blue Box to Maximize Profits

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 TonCoin ($TONUSD) is retracing the bullish sequence that gained over 700% between June 2023 and June 2024. Where next can buyers find opportunities?

Toncoin (TON) is the native cryptocurrency of The Open Network (TON), a decentralized Layer 1 blockchain initially developed by Telegram. After Telegram ceased its involvement due to regulatory challenges, the project was taken over by the TON Foundation and the open-source community.

From August 2021 when it was listed on the exchanges, TonCoin is emerging into an impulse wave sequence. However, the sequence is incomplete. Price completed wave ((1)) and ((2)) on November 2021 and June 2022 respectively. From June 2022, the cryptocurrency evolved and made its biggest gain since inception, completing waves (1)-to-(3) of ((3)) along the way. Wave (3) ended in June 2024 leading to a pullback for wave (4) of ((3)). The chart below shows the daily chart update for TONUSD.

TonCoin (TONUSD) Elliott Wave Analysis – 01.03.2025 Daily Chart Update.

 

TONCOIN

As the chart above shows, wave (4) pullback is evolving as a double zigzag (7-swing) structure. While incomplete yet, the structure could extend to the 3.8778-2.6375 where new buyers could get in again. Within a bullish sequence, best way to buy is to wait for a pullback. On the other hand, selling bounces in a bearish sequence can be profitable. New buyers can find Long entry on TonCoin at 3.8778 while putting stop at 2.6375. Meanwhile, at the blue box, we expect at least a 3-swing bounce if not an impulse recovery for wave (5). A good bullish rection from the blue box will help buyers to take some profit at 50% of wave Y of (4) and then adjust the rest of the position to breakeven.

About Elliott Wave Forecast

At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at support@elliottwave-forecast.com.

Cardano Looking To Turn Higher From Elliott Wave Blue Box Area

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In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Cardano ticker symbol: $ADAUSD. We presented to members at the elliottwave-forecast. In which, the rally from the June 2023 low is unfolding as an impulse structure. Showing a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the crypto & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

Cardano 4-Hour Elliott Wave Chart From 12.19.2024

Cardano Looking To Turn Higher From Elliott Wave Blue Box Area

Here’s the 4-hour Elliott wave chart from the 12.19.2024 update. In which, the cycle from the 8.05.2024 low ended in wave ((3)) at $1.327 high. Down from there, the ADAUSD made a pullback in wave ((4)) to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave (W) ended at $0.911 low. Wave (X) bounce ended at $1.182 high and wave (Y) managed to reach the blue box area at $0.766- $0.507. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

Cardano Latest 4-Hour Elliott Wave Chart From 12.22.2024

Cardano Looking To Turn Higher From Elliott Wave Blue Box Area

This is the latest 4-hour Elliott wave Chart from the 12.22.2024 Weekend update. In which the ADAUSD is showing a reaction higher taking place, right after ending the double correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $1.327 high is still needed to confirm the next extension target higher towards $1.461- $1.677 & avoid a double correction lower.

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Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.

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Cardano (ADAUSD) journeys toward $2 from blue box

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Hello traders. Welcome to a new blog post where we discuss trades that Elliottwave-Forecast members took from the blue box. In this post, we will discuss Cardano with symbol ADAUSD ($ADA.X). 

Cardano is a decentralized blockchain platform and cryptocurrency (ADA) designed to provide a more secure and scalable infrastructure for the development of decentralized applications (dApps) and smart contracts. Launched in 2017 by the Cardano Foundation and developed by IOHK (Input Output Hong Kong), Cardano is unique for its research-driven approach, leveraging peer-reviewed academic studies to guide its development. It operates on a proof-of-stake consensus mechanism called Ouroboros, which enhances energy efficiency and network security.

Cardano completed a bearish cycle in June 2023. From June 2023 low, the cryptocurrency rallied in a 5-wave structure up to March 2024 before another pullback emerged and was completed in August 2024. Thus, the resultant rally emerges into another impulse structure. When the crypto breached the March 2024 high, we prepared to buy the next pullback if it completes a 3 or 7 swing structure as usual. 3-swing structures are zigzags while 7-swing structures are double zigzag Elliott wave patterns.

Cardano (ADAUSD) Elliott Wave Chart – 12.11.2024

Cardano (ADAUSD)

ADAUSD, H1

On 12.11.2024, we shared the chart above with members citing a 7-swing structure for wave 4 on the H1 chart. In addition, we identified the 1.037-0.909 as the key blue box zone. We expected new buyers from the blue box to cause at least a 3-swing bounce if not a 5-wave recovery for wave 5. Price reached the blue and bounced as we expected. For trade management, we advised members to take partial profit at 1.066.

Cardano (ADAUSD) Elliott Wave Chart – 12.12.2024

 

CARDANO (ADAUSD)

ADAUSD, H1

On 12.12.2024, a day after, we shared the chart above with members. The price shows a swift separation from the blue box just as we expected. In addition, price surpassed the risk-free area. Thus, traders now run a risk-free trade after taking partial profit. Going forward, we expect wave ((i)) of 5 to finish. Afterwards, a retracement in wave ((ii)) will follow. For as long as the pullback ends above 0.911, the upside should continue.

About Elliott Wave Forecast

At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $0.99. Cancel anytime by contacting us at support@elliottwave-forecast.com.