Tron Price Prediction: Range-Bound Trading May Linger on

Summary:
• Tron price has been trading within a horizontal channel since the beginning of the month. It may remain range-bound into the weekend.

Tron price is seesawing around the psychological level of $0.1000 after pulling back from Thursday’s high. Cryptos’ price movements in Friday’s session are a reflection of the eased greed levels. The crypto fear & greed index is at a greed level of 75, which is lower than Thursday’s extreme greed of 84.

Nonetheless, just like in the past week, the crypto market remains in the greed end of the spectrum. This would explain why the altcoin in question has held steady above the crucial support level of $0.9000 even with the exhibited volatility. On the same note, BTC is still trading above the psychological level of $60,000 even after pulling back from the year’s high of $67,132.83.  

Tron price forecast

TRX is hovering around the psychological level of 0.1000 after pulling back from its intraday high of 0.1058 in the previous session. Since the beginning of the month, the altcoin has surged by about 11.80%. Within that timeframe, it has been trading within a horizontal channel of between the psychological level of 0.9000 and the resistance level of 0.1058.

Tron price is down by 0.31% at 0.0991. On a four-hour chart, it is trading slightly below the 25 and 50-day exponential moving averages.

In the short term, I expect the crypto to remain within the aforementioned horizontal channel. If the bulls gather enough momentum to push Tron price past the upper border, the resistance level will likely be at 0.1100.