$TREE is currently facing significant bearish pressure, with a current trading price of $0.4366, down -8.26% for the day. This decline has expanded the drop over the past 7 days to -34.89%, reflecting a persistent trend of lower lows. The intraday low for the token was $0.4304, just above the previously seen key short-term support level of $0.4247. A break below this level could trigger further declines.
The trading volume over the past 24 hours was 15.54 million TREE, with a transaction amount of $7.1 million, indicating a certain level of market participation despite the sell-off. However, the volume chart shows an increase in red bars, indicating that sellers have begun to take control of the market.
Technically, the 1-hour chart shows that the price has been repeatedly rejected in the $0.4858–$0.5238 range, forming a clear descending channel. The price action has failed to maintain any breakout attempts, with each rally being quickly rejected. The moving averages are also in a bearish arrangement—MA(5) is 895.76K, MA(10) is 863.47K—and are beginning to widen, which is a typical signal of weakening momentum and continuation of the downtrend.
The order book sentiment is almost balanced, with 49% buy and 51% sell, indicating market indecision but still slightly leaning towards bearish pressure. Without a confirmed bullish reversal pattern, $TREE may continue to decline unless buyers actively defend the $0.4240–0.4300 support area.
Overall, $TREE is at a critical technical crossroads. If the support level holds firm and the volume turns bullish, a rebound towards the $0.4600–0.4800 area may occur. However, if the current levels cannot be maintained, a deeper correction may take place. Traders should closely monitor changes in volume and the structure on lower time frames to capture the next key movement.
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