Tron may surpass bitcoin in 2024

Yesterday, January 3, bitcoin BTC $60,856.92 Bitcoin -2.74% Market capitalization $1.2 trillion VOL. 24 hours $1.35 billion and ethereum BTC $60,856.92 Bitcoin -2.74% Market capitalization $1.2 trillion VOL. 24 hours $1.35 billion suffered a significant drop. Thus, the flagship crypto asset fell below $ 43,500, and the leading altcoin failed to hold the $ 2,200 level. However, Tron’s price remained stable, with TRX forming a base above $ 0.1020 and starting a new growth.

Cryptocurrency experts noted that there was a movement above the resistance levels of $ 0.1050 and $ 0.1055. The bulls pushed it above the 50% Fibonacci retracement level from a high of $ 0.1059 to a low of $ 0.1028. TRX is currently trading above $ 0.1065.

A key upward channel with support at $ 0.1052 is also forming on the 4-hour chart of the TRX/USD pair. Current price dynamics indicate even higher growth potential.

On the one hand, the initial resistance is at $ 0.1088. It is located near the 76.4% Fibonacci retracement level. The first major resistance is near $ 0.1105, above which analysts believe the price could accelerate.

The next resistance is at $ 0.1150. A close above the $ 0.1150 resistance could send TRX even higher to $ 0.1200. The next important resistance is in the $ 0.1124 area. From there, the bulls are likely to target a more significant rise in TRX to $ 0.1320.

The first major support is near $ 0.1050 or the trend line, below which the price may test $ 0.1020. Any further losses could send TRX to the $ 0.0975 support in the coming sessions.

Technical indicators

• the 4-hour MACD for TRX/USD is gaining momentum in the bullish zone.
• the 4-hour RSI (Relative Strength Index) for TRX/USD is currently above 50.
• The main support levels are $ 0.1065, $ 0.1050, and $ 0.0975.
• The main resistance levels are $ 0.1088, $ 0.1105 and $ 0.1150.