- Tron is breaking above an ascending triangle formation; a firm close could spark a continuation of the recent rally.
- Avalanche price is nearing its key support level; if support holds, it would suggest a rally on the horizon.
- Uniswap breaks and closes above a bullish pattern, suggesting an upside move.
Tron (TRX) is breaking above an ascending triangle formation on Tuesday, signaling a potential rally continuation. While AVAX and UNI are retesting their crucial support level — if supported, this suggests an upside move — all three altcoins look poised for double-digit gains as the crypto rally continues.
Tron price is poised for a rally if it breaks above its ascending triangle pattern
Tron price is breaking above an ascending triangle pattern breakout level of around $0.170 in the daily chart and reaches a new all-time high (ATH) of $0.185 on Tuesday. This technical pattern was created by drawing two trendlines from the end of August and the breakout favors the bulls. The target is generally obtained by measuring the distance between the first high and the first low to the breakout point.
Suppose TRX closes above the breakout level of around $0.170. Tron could extend the rally to retest its technical target at $0.192, forming a new all-time high.
The Relative Strength Index (RSI) on the daily chart reads 69, nearing its overbought level of 70. Traders should be cautious as the chances of pullback increase if the RSI falls or rejects from its overbought threshold. Another possibility is that the rally continues, and the RSI remains above the overbought conditions.
TRX/USDT daily chart
Avalanche price looks promising
Avalanche price found support around its ascending trendline (drawn by joining multiple lows since early August) on November 4 and rallied 57% in a week. It closed above its daily resistance level of $32.66 on Monday. At the time of writing on Tuesday, it trades down around $33.37.
If AVAX daily support level at $32.66 holds, it could extend its rally by 28% to a retest the May 22 high of $41.80. A successful daily close above that level could extend an additional rally by 13% to retest its 61.8% Fibonacci retracement (drawn from March’s high of $65.39 to August's low of $17.36) at $47.04.
The RSI stands at 66, pointing downward, after exiting overbought conditions. Traders should be cautious because the chances of a price pullback are increasing.
AVAX/USDT daily chart
Uniswap price shows potential after closing above the ascending triangle pattern
Uniswap price broke above an ascending triangle pattern (the same as Tron’s discussed above) on November 6 and successfully retested the breakout level at around $8.63 multiple times last week. As of Tuesday, it trades slightly down around $9.08.
If the breakout level of around $8.63 continues to hold as support, UNI could rally 45% from its breakout level to reach $12.52, the pattern’s technical target. Investors should be cautious of this theoretical move, as it could face a slowdown at Uniswap’s weekly resistance level of $12.01.
The RSI on the daily chart is currently at 61, above its neutral level of 50, indicating the bullish momentum is gaining traction.
UNI/USDT daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ripple whales prevent XRP decline after soaking $4 billion in sell pressure from realized profits
Ripple's XRP is down 5% on Tuesday after news of South Korea declaring martial law sparked a surge in selling activity and significant profit-taking among investors. However, whales have stepped up buying pressure as the token looks to stage a recovery.
Paul Atkins shows reluctance to replace SEC Chair Gary Gensler
Donald Trump's transition team is yet to find a candidate to replace Gary Gensler as SEC Chair in January. Paul Atkins, the favorite to replace Gensler, has reportedly shown reluctance toward the position. Other top choices for SEC Chair include Teresa Goody Guillén, Brian Brooks and Robert Stebbins.
Crypto Today: BTC holds $95K, Cardano sets $700M record, Tron and Avalanche advance.
Bitcoin price consolidated around the $95,000 mark on Tuesday, as traders continue to rotate profits towards the altcoin markets. Positive sentiment surrounding potential altcoin ETF approvals in 2025 has sparked a major accumulation wave across the altcoin markets.
Dogecoin Price Forecast: Traders move $380M as DOGE mirrors Bitcoin’s pullback
Dogecoin price continues to consolidate below the $0.40 level on Tuesday, down 16% within the daily timeframe. After multiple failed attempts at breaching $0.50 over the past week, speculative traders have moved to scale down their DOGE positions.
Bitcoin: A healthy correction
Bitcoin (BTC) experienced a 7% correction earlier in the week, dropping to $90,791 on Tuesday before recovering to $97,000 by Friday. On-chain data suggests a modest rebound in institutional demand, with holders buying the dip. A recent report indicates BTC remains undervalued, projecting a potential rally toward $146K.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.