Ripple and Tron: Tron stalled yesterday at 0.123445 level

Ripple chart analysis

Ripple price rose to 0.6268 level yesterday, to a new seven-day high. We stopped there and initiated a pullback to the EMA200 moving average at the 0.6000 level. We get the required support and move up to the 0.6100 level. We need a continuation of the positive consolidation and a return to the 0.6200 level. With that step, we will be closer to yesterday’s high, and we could test it. Potential higher targets are 0.6250 and 0.6300 levels.

We need a negative consolidation and pullback again below the EMA200 and 0.6000 levels for a bearish option. This brings us closer to the weekly open price at 0.5950. Falling below it opens up a bearish option for new lower levels. Potential lower targets are the 0.5900 and 0.585 levels, our weekend support.

Tron chart analysis

The price of Tron was in a seven-day bullish trend until last night, when it formed a high at 0.123445. That’s where we encountered resistance and began a retreat that has continued to this day. The price fell below the 0.122000 level and the EMA50 moving average in the previous hour. We are now back above those levels but remain under bearish pressure. This could lead to a further pullback towards the EMA200 moving average.

Potential lower targets are 0.120500 and 0.120000 levels. In that zone, around EMA200, we will also test the weekly open price. We need a new positive consolidation and EMA50 moving average support for a bullish option. A return to 0.123000 would bring us closer to the previous high. A new test could make a break above, and potential higher targets are the 0.124000 and 0.125000 levels.

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