Ripple and Tron: Ripple is moving to the bearish side again

Ripple chart analysis

Ripple’s price rose this morning to 0.6378, a new weekly high. We had no further strength, and a pullback below the 0.6000 level was initiated. The price did not manage to stabilize there either, but it continues to fall, forming a daily low at the 0.5700 level. We are under pressure from the EMA 50 moving average, and it could easily happen that we see a further pullback to a new low.

Potential lower targets are the 0.5600 and 0.5400 levels. For a bullish option, Ripple must stop this pullback and stabilize above the 0.5800 level. After that, it will get a chance to initiate a recovery and move back above 0.6000 and the EMA 50 moving average. If we manage to see that, the chances of further growth on the bullish side will increase. Potential higher targets are the 0.6200 and 0.6400 levels.

Tron chart analysis

For the third day, the price of Tron has been in the 0.133000-0.135000 range. This morning, we found support at 0.133500 and are slowly turning to the bullish side. We need a bounce to 0.134500, where we will meet the EMA 200 moving average. If the price has enough strength to overcome that level, it could continue unhindered to the bullish side.

Potential higher targets are 0.135000 and 0.135500 levels. The weekly open price is high at 0.137571. For a bearish option, the price of Tron would have to be below the daily open price. With that, we go to a new daily low and receive confirmation of further continuation on the bearish side. This week’s low is at 0.132898, and we may test it. Potential lower targets are 0.132500 and 0.132000 levels.

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