Ripple and Tron: Tron under pressure this morning at 0.12650
Ripple price rose to 0.5234 in the previous hour, forming a new weekly high.
Tron’s two-day bullish price recovery was halted last night at the 0.126854 level.
Ripple chart analysis
Ripple price rose to 0.5234 in the previous hour, forming a new weekly high. For now, we are stopping there and making a pullback to support at 0.5150. We must hold above if we plan to continue the previous bullish consolidation. This means we must move up and put pressure on the previous high. The impulse above pushes us to a new weekly high and thus confirms the bullish momentum.
Potential higher targets are 0.5250 and 0.5300 levels. We need a price break below the 0.5150 support level for a bearish option. With that, we go to a new daily low and move to the negative side. Potential lower targets are 0.5100 and 0.5050 levels. Additional support for Ripple price in the 0.5100 zone is the EMA200 moving average.
Tron chart analysis
Tron’s two-day bullish price recovery was halted last night at the 0.126854 level. After that, we tried to hold above the 0.12600 level, but this morning, we had a strong bearish impulse that broke through the support level and lowered the price of Tron to the 0.124300 level. With this, we have fallen below the EMA200 moving average and are currently moving below its line. If the bearish momentum on Tron price increases, we could see the formation of a new weekly low.
Potential lower targets are 0.124000 and 0.123500 levels. We need a positive consolidation and a return above the EMA200 and 0.125000 for a bullish option. Then it is necessary that the price is maintained above that. If he succeeds in this, he will have the opportunity to start the Tron price recovery with a bullish impulse from there. Potential higher targets are 0.12600 and 0.126500 levels.
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