Ethereum

Bitcoin

Resistance

Tron price is holding gains above the $0.1050 support against the US Dollar. TRX is outperforming Bitcoin and could rise further above $0.1105. 
<ul> 
 <li>Tron is moving higher above the $0.1050 resistance level against the US dollar.</li> 
 <li>The price is trading above $0.1065 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key rising channel forming with support at $0.1052 on the 4-hour chart of the TRX/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to climb higher toward $0.1105 or even $0.1200.</li> 
</ul> 
<h2 id="tron-price-regains-strength">Tron Price Regains Strength</h2> 
Recently, <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-takes-major-hit-40k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-recovers-2300/" target="_blank" rel="noopener ">Ethereum</a> saw a major drop below $43,500 and $2,200. However, Tron price remained stable above the $0.1000 support. TRX formed a base above $0.1020 and started a fresh increase. 
There was a move above the $0.1050 and $0.1055 resistance levels. The bulls pushed it above the 50% Fib retracement level of the downward move from the $0.1059 swing high to the $0.1028 low. TRX is now trading above $0.1065 and the 100 simple moving average (4 hours). 
There is also a key rising channel forming with support at $0.1052 on the 4-hour chart of the TRX/USD pair. The current price action suggests more upsides. 
On the upside, an initial resistance is near the $0.1088 level. It is near the 76.4% Fib retracement level of the downward move from the $0.1059 swing high to the $0.1028 low. The first major resistance is near $0.1105, above which the price could accelerate higher. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-567993" src="https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461" alt="Tron Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/Tron-TRX.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/TRXUSD/" target="_blank" rel="noopener nofollow">TRXUSD on TradingView.com</a> 
The next resistance is near $0.1150. A close above the $0.1150 resistance might send TRX further higher toward $0.1200. The next major resistance is near the $0.1124 level, above which the bulls are likely to aim for a larger increase toward $0.1320. 
<h2 id="are-dips-limited-in-trx">Are Dips Limited in TRX?</h2> 
If TRX price fails to clear the $0.1105 resistance, it could start a downside correction. Initial support on the downside is near the $0.1065 zone. 
The first major support is near the $0.1050 level or the trend line, below which it could test $0.1020. Any more losses might send Tron toward the $0.0975 support in the coming sessions. 
Technical Indicators 
4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone. 
4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level. 
Major Support Levels – $0.1065, $0.1050, and $0.0975. 
Major Resistance Levels – $0.1088, $0.1105, and $0.1150.

Tron Price Prediction: TRX Could Outperform Bitcoin And Surge 10%

Table of Contents

NewsBTC

Other articles published on Jan 4, 2024

Crypto’s Predictable Unpredictability: Investor Decodes The Rhythms Of Digital Asset Cycles

3 tokens to turn $1 into $15 in Q1 2024

Gamma Strategies Offers Bounty to Hacker Post $3.4M Exploit

Fidelity Investments Files the Registration of Securities with the SEC for its Bitcoin ETF.

Top GambleFi Presale TG.Casino Heads For $TGC DEX Launch Today – Don’t Miss Out!

Etherscan Goes Big on Solana and Acquires Solscan

Join our free newsletter for daily crypto updates!