TRON Technical Analysis: 29 APR 2025
TRON is trading inside a symmetrical triangle pattern. Source: TradingView
General View
TRON has shown signs of strength in recent weeks, gradually pushing higher while the other coins were in a struggling phase. Now its structure on the higher timeframe is shaping into a cup and handle pattern with price consolidating under the neckline resistance. Meanwhile, the lower timeframe shows a symmetrical triangle taking shape, signaling that TRX is consolidating for a breakout. If bulls can continue to absorb sell pressure and defend the rising trendline, momentum could shift decisively in favor of buyers.
On The Upside
A clean breakout above the $0.260 neckline resistance would confirm the Cup and Handle pattern, setting the stage for a potentially strong rally. However, for the session, the primary intra-day resistance is at the $0.2490 level, followed by $0.2525. A breakout from the symmetrical triangle would further validate this structure, offering an impulsive move.
On The Downside
If bulls fail to defend the rising trendline support around the $0.2420 level, a breakdown from the triangle could invalidate the short-term bullish bias. In that case, TRX will be vulnerable towards lower correction and could revisit the $0.232 level, where the previous demand zone lies.
TRX is establishing a potential cup and handle pattern. Source: TradingView
