Ripple and Tron: Tron fell to 0.118190 level this morning

Ripple chart analysis

Last night, we saw Ripple’s price jump to 0.5707 level. After which the price began to retreat this morning to the 0.5300 level. There, we test the weekly open price and must maintain above it. We also have support in the EMA200 moving average and hope to stay above its support line. All this creates a new bullish impulse to the 0.5420 level and strengthens optimism for further recovery.

Potential higher targets are 0.5500 and 0.5600 levels. We need a new pressure on the support zone at 0.5300 for a bearish option. Falling below Ripple would be forced to retreat and search for a new support level. Potential lower targets are 0.5200 and 0.5100 levels. With this move, we return to last week’s support zone.

Tron chart analysis

Tron price is pulling back from Friday’s jump to the 0.123940 level. Over the weekend, we saw a pullback to the 0.121000 level. On Monday, the price tried to start a recovery, but it was stopped at the 0.122000 level. From there, with two strong bearish impulses, a pullback below the 0.119000 level was initiated. Then, this morning, we saw bearish consolidation and a drop to a new weekly low at the 0.188190 level.

Tron managed to hold on in that zone and initiate a bullish consolidation at the 0.120050 level. Here, we are testing the EMA200 moving average and can expect some resistance to our recovery. Moving above will make it much easier for us to start a positive consolidation and eliminate the bearish pressure. Potential higher targets are 0.121000 and 0.121500 levels.

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