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Tron’s price momentum showcases a significant bullish trend as it accelerates past the $0.120 resistance, positioning itself above key benchmarks against the US dollar. The cryptocurrency has notably outpaced giants like Bitcoin, hinting at a potential for further advances beyond the $0.140 mark. With its price firmly above $0.1350 and the support of the 100 simple moving average on the 4-hour charts, Tron displays a robust trading pattern. The current setup is bolstered by a bullish trend line with support at $0.1382, as per data from Kraken, suggesting a resilient uptrend that could propel prices towards $0.165 or even the $0.180 levels.
This upward trajectory follows a broader market recovery, with Bitcoin and Ethereum also entering positive territories. Tron’s strategic movements above successive resistance levels have culminated in reaching new multi-week highs, signaling solid investor confidence and market bid. The cryptocurrency now navigates above the 23.6% Fib retracement level from a recent upswing, indicating sustained buying interest. The near-term forecast places initial resistance around $0.1400, with subsequent hurdles at $0.1420 and $0.1650. Should Tron surpass these levels, targets extend towards $0.180, setting the stage for further gains. However, potential corrections may find support near the trend line at $0.1380, ensuring stability amidst fluctuations in the crypto market dynamics.
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