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crypto analysis

08/07 14:50

Will Tron break out as it retests a key resistance

Will Tron break out as it retests a key resistance level?

Since mid-June, TRX has shown a steady upward trend, forming a parabolic curve that pushed the price from around $0.26 to the current $0.3393 (as of press time).
It is now approaching a key resistance zone between $0.344 and $0.351, defined by the 0.786 Fibonacci retracement level and previous rejection wicks.
If the bulls manage to break through this resistance, the next logical target will be the 1.618 Fibonacci extension at $0.371. Therefore, the overall structure remains bullish.
However, if it faces rejection in this zone, it may trigger a retest of the ascending trendline. The strength of this rally now depends on sustained buying pressure and broader market support.1000163280


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