TREE recently broke out of a descending wedge pattern on the 4-hour timeframe, signaling short-term movement.
The token rebounded off a support zone near $0.436 following a weekly price decline of over 60%.
TREE is now approaching a resistance level at $0.4825 as momentum builds amid broader altcoin interest.
The TREE token has shown signs of short-term strength after suffering a sharp 60.2% price decline over the past week. At the time of writing, TREE was traded near $0.4697, slightly below its key resistance level of $0.4825. The asset recently broke out of a descending wedge pattern on the 4-hour chart, a structure often associated with price compression followed by directional movement.
Notably, the breakout occurred just above a significant support zone near $0.436. This green-highlighted zone on the chart acted as a cushion, halting further downside pressure. The asset’s ability to hold this support aligns with broader market sentiment favoring rebounds in select altcoins. Additionally, TREE’s rebound emerges at a time when newly listed tokens on Binance are registering rapid gains.
Wedge Breakout Signals Short-Term Price Reaction
On the lower time frame (LTF), TREE's breakout from the descending wedge coincided with rising volume and a slight upward price move. The current price of $0.4697 represents a modest 3.19% gain in the past 24 hours. This technical structure typically reflects exhaustion of selling pressure, which may explain the current reaction above the green demand zone.
https://twitter.com/cryptocandy24x/status/1952233501060890661
Moreover, the recent recovery is occurring within a price range bounded by immediate resistance at $0.4825 and secondary resistance levels at $0.5811 and $0.7370. The visible recovery on the chart highlights a sharp vertical movement previously seen on July 30, possibly indicating the presence of buyers at lower levels.
Key Resistance Levels in Focus as TREE Tests Market Momentum
Traders are now watching TREE’s behavior closely as other Binance-listed tokens gain traction. The broader crypto landscape has recently favored tokens showing early signs of reversal or fresh breakouts. In TREE’s case, the technical levels at $0.436 and $0.4825 will remain crucial for short-term action.
Support has continued to hold firm, while resistance is now being tested. With a recent high at $0.8230, there remains room for recovery if momentum sustains. However, the focus remains on how TREE interacts with resistance in the coming sessions, especially under current market dynamics.
