Ripple and Tron: Tron continues to slide lower and lower

Ripple chart analysis

Over the weekend we saw a bullish impulse in the price of Ripple up to the 0.5536 level. We were up for a short time because we quickly returned to the 0.5400 level. After that, the price begins to retreat to support at the 0.5260 level. Yesterday, we struggled to hold above the EMA200 moving average. We succeeded in this and grew to the 0.5400 level. There, we encounter new resistance and initiate a retreat. 

Ripple has returned below the EMA200 again and continued down to the 0.5209 level, where it finds support. We see a slight recovery to the 0.5270 level in the last few hours. The price could continue to EMA200, where we would test the resistance in that zone. The momentum above would move us to the positive side, relieving us of the bearish pressure. Potential higher targets are 0.5350 and 0.5400 levels.

Tron chart analysis

The price of Tron continues with last week’s bearish consolidation, dropping the euro to the 0.110244 support level. For now, we are holding above that level and trying to initiate a positive consolidation. The price is at 0.110777, and we have positive indications for recovery. Potential higher targets are 0.111500 and 0.112000 levels. We need a retracement above the 0.112500 level to get support from the EMA50 moving average.

With his support, the picture would be more optimistic for recovery and initiating a more concrete bullish consolidation. We need a negative consolidation and a drop to the 0.110000 level for a bearish option. With that step, we form a new weekly low and get confirmation of the continuation to the bearish side. Potential lower targets are 0.109500 and 0.109000 levels.

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