TRON (TRX) is back in the spotlight after a fresh analysis by crypto expert Sjuul from AltCryptoGems. Right now, TRX price sits at around $0.2578, up nearly 5% in the last 24 hours. Trading activity has also picked up dramatically, with volume surging by about 65%.
TRX is hovering near some important price levels that suggest things might soon get volatile. Since December, the coin has steadily made higher lows, indicating that buyers keep stepping in at higher prices. This has built steady upward momentum, gradually moving TRX price closer to a potential breakout.
All this movement has formed what’s known as an ascending triangle pattern. Usually, this signals that a bullish breakout could be on the way once TRX price manages to break through the resistance line it’s been repeatedly testing.
What you'll learn 👉
TRON Price Chart Indicates Bullish Ascending Triangle Formation
The TRX daily chart, shared by analyst Sjuul on X, outlines a clear ascending triangle. This formation includes a stable resistance zone between $0.095–$0.097 and a rising support line around $0.085–$0.086. TRX has repeatedly tested this resistance zone, progressively weakening its strength.
Sjuul emphasized in his recent tweet that TRX price has spent considerable time consolidating within this triangle. He mentioned that a breakout seems imminent, particularly if the broader crypto market finds stability this week. This scenario aligns with the standard ascending triangle behavior.
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TRX Price Targets and Potential Breakout Levels
For a successful upward breakout, analysts recommend monitoring the resistance area closely. The chart reveals resistance around $0.097 as a key level requiring a daily candle close above it. Sustained trading volume accompanying the breakout could verify its validity.
Post-breakout, potential targets would initially focus on psychological price levels beyond the current resistance. Breaking above $0.10 would represent the first logical milestone. The next targets would derive from historical highs, indicating possible continuation higher.
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TRON Market Sentiment and Analyst Views
Sjuul’s recent commentary underscores positive sentiment surrounding TRX price action. He suggests that market conditions play a role in facilitating this breakout scenario. The combination of technical charting and increased market activity supports this bullish forecast.
Traders and investors following TRX price should consider paying attention to upcoming daily closes around resistance levels. A verified breakout may attract increased investor interest. This scenario could set TRX on a trajectory towards higher valuation, reflecting the bullish pattern anticipated by analysts.
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