Ripple and Tron: Ripple drops to a weekly low of 0.5150
The price of Ripple has been in a bearish trend since the start of this week.
Yesterday’s Tron price recovery was stopped at the 0.112260 level.
Ripple chart analysis
The price of Ripple has been in a bearish trend since the start of this week. On Tuesday, pressure on the price will increase with a drop below the EMA200 moving average. Yesterday, we also held below the EMA200 and 0.5300 levels. This morning, we saw increased bearish pressure, initiating a push down to the 0.5129 level. For now, we manage to hold above and recover slightly to the 0.5176 level. We are still close to this morning’s low and need a stronger impulse to move us to a safer place.
A move above the 0.5200 level should be enough of a move to push for a positive consolidation. Potential higher targets are 0.5250 and 0.5300 levels. We need a negative consolidation and a descent to a new low for a bearish option. This confirms the bearish continuation. Potential lower targets are 0.5100 and 0.5050 levels.
Tron chart analysis
Yesterday’s Tron price recovery was stopped at the 0.112260 level. Although we exceeded the EMA50 moving average, we did not get adequate bullish momentum. This morning led to the initiation of a new bearish consolidation and pullback to the 0.110500 level. We are close to testing this week’s low at the 0.110244 level. Potential lower targets are 0.110000 and 0.109500 levels.
If Tron manages to stabilize above the 0.111000 level, we could see the beginning of a new positive consolidation and recovery to the bullish side. A return to the 0.112000 zone would see the price jump over the daily open price and return to the positive side. Potential higher targets are 0.112500 and 0.113000 levels.
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