- Last night, Ripple price fell to a new weekly low at the 0.5211 level.
- Tron price ended this week's bullish rally yesterday at the 0.161890 level.
Ripple Chart Analysis
Last night, Ripple price fell to a new weekly low at the 0.5211 level. After that, the price stops further decline and starts a bullish consolidation this morning to the level of 0.529. For now, we find resistance in that area and pull back towards the 0.5250 level. Ripple is under slight pressure to fall to the daily opening level. If we see a breakout below, we can expect the formation of a new weekly low.
The possible lower targets are the 0.5220 and 0.5200 levels. For a bullish option, Ripple must first break today's resistance level. After it does, we expect to reach the 0.5300 level and get support from the 50 EMA. Possible higher targets are the 0.5320 and 0.5340 levels. In the 0.5340 area we will test the weekly opening level to move to the positive side.
Tron chart analysis
Tron price ended this week's bullish rally yesterday at the 0.161890 level. There we suddenly lost bullish momentum, which influenced us to start a bearish consolidation. This morning the price fell to 0.159000 and there it finds support at the 50 EMA. Since then, we have seen a slight bullish consolidation and a recovery at the 0.159700 level. All indications are that we should see a recovery later in the day to higher levels on the chart.
The highest potential targets are the 0.160000 and 0.161000 levels. For a bearish option, Tron would have to push below 0.159000 and the 50 EMA. With that step, we reach a new daily low and strengthen the bearish momentum. After that, we will see a new pullback in Tron price towards new support. The lowest possible targets are the 0.158000 and 0.157000 levels.
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