TRON Technical Analysis: 19 APR 2025
Tron is about to retest the breakdown neckline. Source: TradingView
General View
Tron has struggled in recent sessions after completing a clear Head and Shoulders breakdown. Bulls are about to retest the breakout level, and if a rejection is seen, it would be deemed bearish. Price action is currently consolidating underneath broken support, suggesting sellers are still in control. Notably, TRX has left behind three major wickless candles, which historically tend to act as magnets for price re-tests. A short-term recovery into these wickless zones cannot be ruled out, but any strength below the neckline continues to carry a bearish bias.
On The Upside
Bulls are facing hard time from $0.2440 to $0.2460 levels. This region needs to be reclaimed by the bulls if they are to once again open the upside potential and negate the emerging selling pressure. A sustained move above $0.2460 would neutralize the Head and Shoulders pressure and allow a possible revisit towards the $0.2500–$0.2520 highs.
On The Downside
Failure to reclaim the $0.2440 resistance opens the door for deeper pullbacks. Sustained weakness below $0.2400 would expose lower support levels towards $0.2350 and eventually $0.2310. As long as Tron struggles beneath the pivotal neckline zone, sellers maintain the upper hand.
Major wickless levels on the TRX chart. Source: TradingView
