TRON (TRX) is showing a bullish continuation structure within an ascending channel, following a breakout from a falling wedge pattern.
Currently, the price is consolidating inside a small bullish pennant, indicating a potential breakout to the upside. If this breakout materializes, it could trigger a rally toward the Fibonacci extension levels.
📌 Key Targets:
0.29849 (200% Extension)
0.31102 – 0.31222 (224% Cluster)
0.33207 (261.8% Extension)
📈 Technical Confluences:
Price is trending steadily within an ascending channel
Previous breakout from a falling wedge pattern confirms bullish sentiment
Higher lows structure remains intact
The pennant pattern typically resolves in the direction of the prevailing trend
📉 Invalidation Level:
A breakdown below the lower trendline and 0.258 support would invalidate the bullish scenario.
This chart setup offers a favorable risk/reward opportunity if the breakout is confirmed with strong volume.
Currently, the price is consolidating inside a small bullish pennant, indicating a potential breakout to the upside. If this breakout materializes, it could trigger a rally toward the Fibonacci extension levels.
📌 Key Targets:
0.29849 (200% Extension)
0.31102 – 0.31222 (224% Cluster)
0.33207 (261.8% Extension)
📈 Technical Confluences:
Price is trending steadily within an ascending channel
Previous breakout from a falling wedge pattern confirms bullish sentiment
Higher lows structure remains intact
The pennant pattern typically resolves in the direction of the prevailing trend
📉 Invalidation Level:
A breakdown below the lower trendline and 0.258 support would invalidate the bullish scenario.
This chart setup offers a favorable risk/reward opportunity if the breakout is confirmed with strong volume.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.