- This morning we saw the formation of a new Ripple weekly low at the 0.5237 level.
- On Wednesday, Tron price fell to 0.153137, a new weekly low
Ripple Chart Analysis
This morning we saw the formation of a new Ripple weekly low at the 0.5237 level. After that, the price tried to start a recovery but found resistance at the 0.5450 level. A new bearish consolidation from that level now returns us to the support zone. The chart shows bearish momentum; We could soon see a break below and a drop to a new weekly low. The lowest possible targets are the 0.5100 and 0.5000 levels.
For a bullish option, we need a positive consolidation and a return of Ripple price above the 0.5500 level. In this way, first of all we would move away from the previous minimum and reinforce optimism regarding a possible recovery. The possible highest targets are the 0.5600 and 0.5700 levels. We will have additional resistance at the 0.5700 area at the 50 EMA SMA.
Tron chart analysis
On Wednesday, Tron price fell to 0.153137, a new weekly low. The price quickly consolidated there and started an uptrend. The movement occurs in the bullish channel and today's low was formed at the level of 0.154000. We receive support from the 200 EMA today and expect further growth above yesterday's high of 0.155500. The highest potential targets are the 0.156000 and 0.157000 levels.
For a bearish option, we first need a negative consolidation and a return of Tron below the 200 EMA and the 0.154000 level. With that step, we approach a new daily low. After that, we expect a strengthening of the bearish momentum and a pullback of Tron price to a new daily low. The lowest possible targets are the 0.153500 and 0.153000 levels.
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