Ripple and Tron: Tron is back on the positive side
- This morning, the Ripple price slipped to a new weekly low of 0.5743
- This morning, we saw a new weekly low for the Tron price at the 0.149421 level
Ripple chart analysis
This morning, the Ripple price slipped to a new weekly low of 0.5743. Shortly after, a bullish consolidation was initiated, and a retracement was made above 0.5850 and the EMA 200 moving average. With the help of the EMA 200, the price climbed to 0.5915 levels, a new daily high. We are now encountering a resistance zone around 0.5925. We will fight for Ripple to make a new impulse if it plans to start with further growth and recovery.
Potential higher targets are 0.5950 and 0.6000 levels. If we consider a bearish option, the price would have to pull back below the EMA 200 moving average and 0.5830. With that step, we retreat below the daily open price and move to the bearish side. After that, Ripple remains to start a further pullback to a new low. Potential lower targets are 0.5750 and 0.5700 levels.
Tron chart analysis
This morning, we saw a new weekly low for the Tron price at the 0.149421 level. After that, it didn’t take long for us to see the start of a bullish consolidation. A strong bullish formation on the chart brought the price back above the weekly open level, forming a daily high at the 0.152500 level. Previous losses caused by the pullback have been almost wiped out, and all indications are that Tron should continue on the bullish side.
Potential higher targets are 0.153000 and 0.153500 levels. For a bearish option, we need a negative consolidation and a price drop below the weekly open level. With this, we move again to the negative side and expect an increase in bearish pressure. Potential lower targets are 0.151500 and 0.151000 levels. Tron could slow down the decline in the 0.151000 zone by testing that EMA 200 moving average.
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