Ripple and Tron: strong bullish impulses this week
- Since the start of this week, the price of Ripple has been in a strong bullish trend, with the formation of a new weekly high at the 0.6155 level
- The price of Tron is also in a strong bullish trend for the third week in a row
Ripple chart analysis
Since the start of this week, the price of Ripple has been in a strong bullish trend, with the formation of a new weekly high at the 0.6155 level. We are currently encountering an open in that zone and pulling back to 0.6095. If the price manages to hold here, it could trigger a continuation of the bullish consolidation. With this, we will form a new weekly high and confirm staying on the bullish side. Potential higher targets are 0.6200 and 0.6250 levels.
For a bearish option, we need Ripple to pull back to the 0.6000 level. There, we will test the daily open price. If we fail to hold on there, we will see a move below to a new daily low. This confirms the strengthening of the bearish momentum and pressure on the price to continue falling. Potential lower targets are 0.5950 and 0.5900 levels.
Tron chart analysis
The price of Tron is also in a strong bullish trend for the third week in a row. Today, we climbed to a new high at the 0.146904 level. Everything indicates that we will continue to grow and see the price soon reach a new high. There is strong bullish Tron momentum and no signs of a potential reversal or slowing of the trend. Potential higher targets are the 0.148000 and 0.149000 levels.
For a bearish option, we need a negative consolidation and Tron price drop below 0.145000. With that step, we will see a reduction of the previous momentum and a strengthening of the bearish pressure. After that, the critical level is 0.143290, the daily open price. If this level does not hold, a break below will follow, and the price will fall to a new daily low. Potential lower targets are 0.142000 and 0.141000 levels.
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