Ripple and Tron: Tron under pressure retreats below EMA 200
Tron’s price has been retreating since Saturday from the 0.141563 level.
Ripple chart analysis
Ripple’s new weekly high price is at 0.5704 level. This high was formed this morning after a two-day bullish consolidation. Above, the price had no strength, and we saw a drop to support at the 0.5330 level. Additional support at this level is the EMA 50 moving average. Therefore, we hope to start a new positive consolidation and test this morning’s high.
Potential higher targets are 0.5500 and 0.5600 levels. For a bearish option, we need a negative consolidation and a drop below the EMA 50 moving average. This will increase the bearish momentum and push the price to a new low. We will test the weekly open price in the 0.5200 zone. The impulse below shifts us to the bearish side, thus strengthening the pressure on the price. Potential lower targets are the 0.5100 and 0.5000 levels.
Tron chart analysis
Tron’s price has been retreating since Saturday from the 0.141563 level. This morning, the picture worsened as the price fell below the EMA 50 moving average and the weekly open price. This accelerated the pullback, and a new weekly low was formed at the 0.132900 level. The price also broke through the EMA 200 moving average support. Now we see a stop of the fall and a slight recovery of the Tron price to 0.133790.
Potential lower targets are the 0.132000 and 0.130000 levels. For a bullish option, we need a positive consolidation and a return above the EMA 200 moving average and 0.13500. After that, the chances of seeing further growth on the bullish side increase. Potential higher targets are the 0.136000 and 0.137000 levels.
