TREE Price Rebounds After Sharp Weekly Decline, Targets $0.4825 Resistance on Technical Breakout
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.
