TRON Technical Analysis: 29 APR 2025

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. A clean breakout from the symmetrical triangle would also confirm the bullish structure, setting the stage for a potentially strong rally.

On the other hand, a breakdown from the triangle could invalidate the short-term bullish bias, paving the way for further downside.

TRON Price Analysis: TRX Could Soar On Breakout From Symmetrical Triangle

TRON has been outperforming the market in recent weeks, as it's now forming a cup and handle pattern on the higher timeframe. The price is currently consolidating at the neckline of the pattern, which coincides with the symmetrical triangle pattern on the lower timeframe.

The symmetrical triangle is a neutral pattern that indicates a period of consolidation before a breakout or breakdown. In this case, the triangle has formed after a rally from the $0.232 support, which is now a crucial level to watch on the downside.

If bulls can defend this level and continue to push higher, TRX could rise towards the next resistance at the 50% Fibonacci retracement level of the recent rally, which is around $0.2525. A breakout from this level could open the door for a move to the $0.260 resistance, which is the neckline of the cup and handle pattern.

However, if sellers regain control and break below the rising trendline, it could negate the short-term bullish bias. In this scenario, 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. Credit: TradingView

Where Is TRX Heading Next?

Overall, TRON is showing signs of strength and could be poised for further gains if bulls can maintain control. A breakout from the symmetrical triangle would also confirm the bullish structure, setting the stage for an impulsive move.

On the other hand, a breakdown from the triangle could invalidate the short-term bullish bias, paving the way for further downside.

TRX price today is trading at $0.2440, with a 24-hour trading volume of $567,883,664. TRX is down 0.12% in the last 24 hours.

As of 07:40 EST (11:40 GMT), TRON is trading at $0.2424, down 0.12% for the 24-hour period.