TRON Technical Analysis: 16 APR 2025
TRON triggers a bullish formation on 12-hour time-frame. Source: TradingView
General View
TRX has successfully broken through its multi-month descending trendline, signaling a major shift in momentum. TRX showed impressive resilience despite market-wide weakness. Going forward, a golden cross has once again formed on the 12-hour timeframe. With bulls now firmly back in control and price consolidating above the breakout zone, TRX is well-positioned for upside continuation.
On The Upside
The golden cross formation is putting bullish price once again TRX with its Immediate intra-day resistance sitting around $0.250 and $0.2630 levels, followed by a secondary barrier at $0.2720. If bulls maintain control and buying volume remains active, TRX is likely to push for these levels.
On The Downside
For TRON, the key intra-day supports are positioned between the $0.2470 and $0.2440 levels. This range marks the first layer of support for the price. Recently, the price tested this zone and responded strongly, confirming the strength of this level. It now stands as a solid horizontal support area that bulls can confidently rely on.
TRX is in a bullish price action. Source: TradingView
