Ripple and Tron: Tron is recovering above the 0.112000 level
The price of Ripple climbed to a new high yesterday at the 0.5719 level.
On Friday, the price of Tron fell to the 0.104909 level and formed a new three-month low there.
Ripple chart analysis
The price of Ripple climbed to a new high yesterday at the 0.5719 level. With that, we formed a new weekly high: The price failed to continue its growth, followed by a retreat to the 0.5460 level. Ripple is now under pressure to slide even lower in search of a new support level. At 0.5400, we encounter the EMA50, and we expect the pullback to slow down or even stop there.
Potential lower targets are 0.5350 and 0.5300 levels. EMA200 moving average and weekend support are at the 0.5250 level. We need a positive consolidation and price stabilization above the 0.5500 level for a bullish option. If we succeed in this, we will have the opportunity to start further growth on the bullish side. Potential higher targets are 0.5600 and 0.5700 levels.
Tron chart analysis
On Friday, the price of Tron fell to the 0.104909 level and formed a new three-month low there. After the new support at that level, we quickly returned above 0.110000 and, with the help of the EMA50, started a further recovery. Yesterday, we moved above EMA200, and now we need to hold above it. We have support at 0.111500 and need stabilization above the 0.112000 level.
Potential higher targets are 0.113000 and 0.114000 levels. We need a negative consolidation and a pullback of the Tron price below the 0.111300 level for a bearish option. Thus, we fall below the moving averages and the weekly open price. Potential lower targets are 0.110000 and 0.109000 levels.
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