TREE Price Rebounds 3 19% on Technical Breakout and Binance Momentum

The TREE token has demonstrated signs of short-term resilience following a dramatic 60.2% price drop in the past week. As of the latest update, the price of TREE hovered near $0.4697, just below the key resistance level of $0.4825. The recent movement came after the asset broke out of a descending wedge pattern on the 4-hour chart—a technical signal often linked to the end of a consolidation phase and the onset of directional movement [1].

The breakout occurred above a crucial support zone near $0.436, which had previously cushioned the token from further losses. The ability of TREE to hold this support level suggests a potential rebound in investor interest, particularly in the altcoin space. This recovery aligns with a broader trend in the market, where select altcoins are seeing renewed attention and short-term gains [1].

On the lower time frame, the breakout coincided with increased trading volume and a modest 3.19% price gain over the past 24 hours. The technical setup suggests a temporary exhaustion of bearish pressure, potentially setting the stage for further movement. Traders are now looking closely at the key resistance level at $0.4825, followed by secondary levels at $0.5811 and $0.7370. If the price can break through these levels, it could trigger a more sustained recovery [1].

The recent price action also coincides with a favorable environment for newly listed tokens on Binance, many of which are experiencing rapid gains. This context adds another layer of interest to TREE’s technical performance, as similar tokens are gaining traction in the broader market. The current momentum in TREE’s price reflects not only its own technical conditions but also the positive sentiment surrounding certain altcoins in the current cycle [1].

Looking ahead, traders will be closely monitoring how the price interacts with the upper resistance levels, particularly given the recent volatility and the presence of key psychological levels. A sustained move above $0.4825 could signal renewed confidence in the token’s short-term direction, while a failure to hold this level might lead to renewed downward pressure. The path forward will largely depend on how buyers and sellers engage at these critical points in the near term.

Source: [1] TREE Price Rebounds After Sharp Weekly Decline, Targets $0.4825 Resistance on Technical Breakout (https://cryptonewsland.com/tree-price-rebounds-after-sharp-weekly-decline-targets-0-4825-resistance-on-technical-breakout/)