TRON Technical Analysis: 23 APR 2025
Tron is in a major triangle pattern. Source: TradingView
General View
Tron has been a leader in defining strength as it leads against the general crypto market. Price is inside a symmetrical triangle on the 2-hour timeframe. On the daily chart, buyers successfully cleared the trendline resistance and defended the breakout support on recent retests. This resilience signals that bulls are maintaining a strong presence within the consolidation zone. If strength holds over the next few sessions, TRX could initiate a breakout, eventually paving the way for a broader rally towards higher resistance levels.
On The Upside
The immediate focus is on a potential breakout above the upper boundary of the symmetrical triangle. This resistance is at the $0.2480 level, and over the last few hours, bulls have not been convincing in triggering a breakout effort. A close above $0.2480 would extend the upside towards $0.2675 next followed by $0.2725.
On The Downside
Bulls should ideally not consolidate for too long, delaying the bullish continuation, or else sellers could take a short-term strength and look to break below the trendline supports at 0.2420 levels. A break below would push Tron for lower retests of $0.2400, followed by potentially $0.2360 levels.
TRX held the breakout re-test. Source: TradingView
