TRON is an ambitious project dedicated to the establishment of a truly decentralized Internet and its infrastructure. The TRON Protocol offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications (DApps) in the TRON ecosystem.
TRX price analysis for January 11 reveals a bullish momentum, with prices surging over 6% in the past 24 hours. The pair is currently trading at $0.1595, facing strong resistance at $0.1690. A breakout above this level could lead to a rally towards $0.17795, followed by psychological levels of $0.20 and $0.25.
On the downside, immediate support is seen at $0.1100, with a violation opening up targets of $0.00950, $0.0875 and $0.0800.
The technical indicators on the daily chart are bullish, with the Commodity Channel Index (CCI) showing a reading of 50, indicating a strong buying pressure. The Directional Movement Index (DMI) is also bullish, with the Average Directional Index (ADX) showing a reading of 25.
Overall, the TRX price analysis suggests a bullish trend, with prices poised for a breakout above $0.1690. A failure to do so could lead to a correction towards the support levels mentioned above.
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