Tron builds momentum: TRX price before the next breakout?
The daily chart currently shows a pronounced consolidation phase, during which the Tron price successfully held above the 50-day EMA. This development represents the first positive technical momentum, indicating a stable market structure.
The MACD (Moving Average Convergence Divergence) remains in positive momentum and is gradually building on it, indicating continued trend strength. At the same time, the RSI (Relative Strength Index) remains stable above the 50 mark, further reinforcing the bullish bias.
In the short term, the yellow diagonal trend line now comes into focus. A sustained breakout above it could clear the way for TRX to reach the first significant resistance at the red zone. However, if the price fails to generate sufficient buying power and sells off again, there is a risk that the underlying Wick Zone will be replenished. In the current context, however, such a move would be more likely to be interpreted as a technical pullback within the consolidation phase.
4-hour chart confirms constructive market picture for Tron
The market situation on the 4-hour chart also appears constructive. The Tron price successfully broke through the yellow diagonal resistance line and simultaneously surpassed both the 50 EMA and the 200 EMA. These two moving averages now act as dynamic support zones, further strengthening the bullish structure.
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In addition, the formation of a potential W pattern is emerging, the upside resolution of which could provide a clear signal for a trend continuation. Indicators also support this scenario. The MACD (Moving Average Convergence Divergence) shows that the negative momentum has almost completely dissipated and a transition into positive territory is imminent. At the same time, the RSI (Relative Strength Index) remains above the 50-point mark, further underscoring the positive market structure.
Overall, the technical situation points to a continued upward movement, provided the price structure remains above the moving averages and support is confirmed by momentum.
About the author
Bastian Keller (Bitbull) has been operating independently in the forex market since 2015 and has been a full-time trader in the crypto market since 2018. He actively shares this expertise on various social media platforms, particularly on his YouTube channel “Bitbull Trading,” which has more than 140,000 subscribers. Bitbull also launched the TradeMania platform, which is designed to make it easier for beginners to get started with crypto trading.
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