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Tron Price Analysis: TRX/USD sees promising pullback, making room for further run north

FX Street
Updated:
  • Tron price late on Friday was trading up with gains of some 2%, after cooling in the session on Thursday.
  • TRX/USD bulls will look to extend further north, following a breakout and retest of a descending wedge pattern.

 

The Tron price late in the session on Friday was trading up in positive territory, holding gains just shy of 2%. Market bulls returned after a cooling throughout the cryptocurrency market was observed on Thursday.

TRX/USD price action had been moving within a descending wedge pattern formation, which was seen from 24th February. The bulls managed to force a breakout to the upside of the above-mentioned pattern on 15th March.

Since the noted breach of the wedge, price action has been cooling, moving within consolidation mode just above the noted pattern. Bulls have the platform to further capitalize following the breakout and retest.

TRX/USD daily chart

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