Ripple pulled back, Tron in stable bullish consolidation

Ripple chart analysis

Ripple price pulled back below the EMA200 and 0.5300 levels yesterday. We continued the bearish consolidation from Monday, when we climbed to 0.5719. This morning the decline continued to a new weekly low at 0.5184. We remain in that support zone below the EMA200 and under bearish pressure. All of this could have a negative impact and send the price of Ripple to a new lower weekly price.

Potential lower targets are 0.5150 and 0.5100 levels. We need a positive consolidation and a return above the EMA200 and the 0.5300 level for a bullish option. Then, we need to hold above there in order to wait for a new impulse and start a resistance to the bullish side. Potential higher targets are 0.5400 and 0.5500 levels.

Tron chart analysis

Today, Tron continues its bullish trend, rising to a new weekly high at the 0.114336 level. We have good support from the EMA50 and EMA200 moving averages.

This morning, we tested the EMA50; after that, a bullish consolidation and Tron price recovery were initiated. We expect to see growth at a new weekly high level, and the potential higher targets are the 0.114500 and 0.11500 levels.

For a bearish option, Tron’s price would have to pull back to 0.113500 first and test the EMA50 moving average there. With a break below this support, the chances of seeing a further decline and pullback to the next support level increase.

Potential lower targets are 0.113000 and 0.112500 levels. Additional support in the 0.112500 zone is in the EMA200 moving average.

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