Ripple and Tron: Tron positive for the fourth day in a row
Last night, we saw Ripple’s price at a new weekly high of 0.6629.
Tron’s price has been in bullish consolidation since Friday evening with a 0.115109 level.
Ripple chart analysis
Last night, we saw Ripple’s price at a new weekly high of 0.6629. This was followed by a pullback to support at the 0.6400 level. From there, we initiated a new positive consolidation up to the 0.6500 level. For now, we are holding below and waiting for a new impulse to jump over that level. After that, we again look at the 0.6600 level and test yesterday’s high.
Potential higher targets are 0.6650 and 0.6700 levels. We need a negative consolidation and a drop below the daily open price at 0.6400 for a bearish option. Thus, we descend to a new daily low and confirm that we are under slight bearish pressure.
Additional support is the EMA50 moving average. Below it, we go to the 0.6300 level and test the EMA200 moving average. Falling below these support levels Ripple would be in big trouble.
Tron chart analysis
Tron’s price has been in bullish consolidation since Friday evening with a 0.115109 level. Over the weekend we saw a slight bullish consolidation with a new daily high at the 0.121000 level. On Monday, the price was initially volatile and under pressure, leading to a drop to support at 0.117000. We managed to stay above there, and from there to initiate a bullish consolidation that continues today.
This brings us to the daily high at the 0.122165 level. We now have additional support in the EMA200, and it is much easier for us to start further recovery. Potential higher targets are 0.123000 and 1.24000 levels.
We need negative consolidation and pullbacks below the 1.120000 level for a bearish option. With that step, we return to the bearish side, after which a drop in the price of Tron is inevitable. Potential lower targets are 0.119000 and 0.11800 levels.
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