TRX Technical Analysis Jan 24

TRX is under pressure at the $0.30 level with a %4.31 drop today. Stop hunting possible at nearby supports, BTC correlation critical.

Short-Term Market Outlook

TRX is trading at $0.30 as of January 24, 2026, and has experienced a %4.31 loss in the last 24 hours. Daily range limited to $0.29-$0.31, volume remains at a moderate level of $169.35M. Short-term outlook shows a clear downtrend: Price positioned below EMA20 ($0.30), Supertrend giving bearish signal and pointing to $0.31 as resistance. RSI at 34.96 approaching oversold region, MACD confirming bearish momentum with negative histogram. Under these conditions, upward movements in the next 24-48 hours may remain as exhaustion rallies; main risk in downside breakout. Multi-timeframe (MTF) analysis detects 16 strong levels in 1D/3D/1W: 4 supports/3 resistances in 1D, 1 support/3 resistances in 3D, 4 supports/3 resistances in 1W. While downtrend maintains dominance, reaction buys possible at nearby supports, but overall bias bearish. For active traders, intraday scalping zones should be narrowed and focus on quick invalidation points.

Intraday Critical Levels

Nearby Support Zones

Current supports: $0.2939 (score: 89/100) – Most critical intraday support, long positions can be held as long as this isn’t broken, invalidation below $0.2930. Second level $0.2911 (score: 78/100) – Momentum can gain if tested, stop-loss $0.2905. Deep support $0.2769 (score: 61/100) – 24-48 hour downside target, can accelerate with volume increase. These levels align with VWAP and pivot points; $0.2939 zone ideal for scalping long entry, but risk high.

Nearby Resistance Zones

Current resistances: $0.2990 (score: 79/100) – First hurdle, short squeeze possible if price returns here, invalidation above $0.3000. $0.3036 (score: 68/100) – Medium-term EMA crossover zone, volume required for breakout. Upper level $0.3110 (score: 73/100) – Supertrend resistance, bearish continuation if not passed. Short opportunities at these resistances manageable with tight stops ($0.3120). $0.2990 test expected by end of day.

Momentum and Speed Analysis

Short-term momentum bearish: MACD histogram widening negatively, RSI around 35 carries oversold bounce potential but no divergence. Supertrend holding $0.31 resistance, EMA20 ($0.30) critical equilibrium line. Intraday speed analysis: Sideways risk with low volume, but $0.2939 break can accelerate momentum (target $0.2911). In upside scenario, volume increase above $0.2990 would be momentum changer. Stochastic oversold, warning for minor rebounds; scalpers should monitor Fibonacci retracements ($0.2950 %38.2) on 5-15 minute charts. Overall, bearish bias weighs %65 in 24-hour window, approach with risk management (1:2 RR).

Short-Term Scenarios

Upside Scenario

If TRX passes $0.2990 resistance with a candle above $0.3000, short-term bullish trigger activates. Target $0.3036, then $0.3110 (upside target score 66). Trigger: RSI 45+ divergence and volume spike. Invalidation: Close below $0.2990. This scenario possible if BTC stable above $90k; scalping longs entry $0.2970, stop $0.2950. Probability %35, exhaustion move.

Downside Scenario

Short bias dominant until $0.2939 support broken; gains momentum with close below $0.2930. Targets $0.2911, then $0.2769 (downside score 28). Trigger: MACD sell signal and volume increase. Invalidation: Above $0.2950. Parallels BTC drop below $89.5k; short entry $0.2980, stop $0.3010. Probability %65, high-risk intraday shorts.

Bitcoin Correlation

BTC at $89,629 +%0.69 sideways, but Supertrend bearish – warning for altcoins. TRX highly correlated with BTC (%0.85); if BTC loses $89,542 support, pressure increases on TRX $0.2939. If BTC resistance $90,622 not passed, TRX bearish scenario gains weight. BTC levels to watch: Support $89,542/$88,830, Resistance $90,622. If dominance rises, TRX stays lower. Click for TRX Spot Analysis and TRX Futures Analysis.

Daily Summary and Watch Points

– Main watch: $0.2939 support / $0.2990 resistance.
– Trigger: $0.2930 breakdown (bear) / $0.3000 breakout (bull).
– Risk: Short-term trades carry high volatility, max %1-2 risk/position.
– Volume: Expect increase, low volume fakeout risk.
– MTF: 1W supports deep, panic sells possible.
Traders, approach with tight stops; no news flow, stay technical-focused. Capital management priority!