Ripple and Tron: Tron crosses the line at 0.14000000 level
Ripple price is retreating under bearish pressure below the 0.5500 level.
The Tron chart shows no signs of a change in trend and a move to the bearish side.
Ripple chart analysis
Ripple price is retreating under bearish pressure below the 0.5500 level. Yesterday’s bullish consolidation managed to raise the price to the 0.5796 level. We then saw a quick pullback to the first support at the 0.5455 level. There, we got support and started a recovery, which lasted until the 0.5670 level. We have a new resistance at that level and are starting a bearish consolidation that continues today.
This leads to forming this week’s new low at the 0.5327 level. Potential lower targets are 0.5300 and 0.5250 levels. For now, we are holding above today’s low and recovering to the 0.5430 level. We need a continuation of this positive consolidation in order to recover to higher levels. Potential higher targets are 0.5450 and 0.5500 levels.
Tron chart analysis
The Tron chart shows no signs of a change in trend and a move to the bearish side. On the contrary, this morning, we climbed to 0.14078394 levels. The previous high from Saturday at the 0.13965000 level was broken. We are now looking at a slight pullback from the high to the 0.13880400 level. We expect the price to get the required support soon and move to the bullish side again.
Potential higher targets are 0.14000000 and 0.14100000 levels. For a bearish option, we need a price drop below the 0.13800000 level because that would break the previous bullish formation. The throne would be under more pressure, and this could initiate a deeper pullback. Potential lower targets are 0.13700000 and 0.13600000 levels.
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