Ripple climbs to 0.5450, and Tron is back above EMA200
Yesterday, Ripple received strong support at the 0.5100 level, which caused the initiation of bullish consolidation and growth to the 0.5467 level.
On Sunday, Tron’s price fell to support at the 0.120508 level.
Ripple chart analysis
Yesterday, Ripple received strong support at the 0.5100 level, which caused the initiation of bullish consolidation and growth to the 0.5467 level. We formed a new weekly high today and hope for further growth until the end of the week. Last night, we had a short-term consolidation around the 0.5350 level, after which we saw a break above and a jump to a new high. It is important for us to hold above 0.5400 for now to be in a good position to continue.
Potential higher targets are 0.5450 and 0.5500 levels. We need a negative consolidation and pullback below the 0.5350 support level for a bearish option. By going below, we are going to a new daily low, which will only increase the pressure on the price of Ripple to start a further retreat. Potential lower targets are 0.5300 and 0.5250 levels.
Tron chart analysis
On Sunday, Tron’s price fell to support at the 0.120508 level. After this, we stabilized there and started a positive consolidation from there. Monday was in a bullish trend and we managed to move above the EMA50 moving average and 0.122000. The new bullish impulse takes us even higher, and this morning, we formed a weekly high at the 0.1243637 level. We stopped there, and Tron initiated a pullback to support at 0.123000.
We are again back on the bullish side and above the EMA200 moving average. Potential higher targets are 0.124500 and 0.125000 levels. A new retracement below the EMA200 moving average could mean that the price does not have enough strength to sustain itself on the bullish side. This would have the effect of strengthening the bearish momentum. Potential lower targets are 0.123000 and 0.122500 levels.
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