Ripple and Tron: Tron could move above 0.115000 soon
On Wednesday, the price of Ripple climbed to a weekly high of 0.5329.
Tron price has been in a steady bullish consolidation since Monday.
Ripple chart analysis
On Wednesday, the price of Ripple climbed to a weekly high of 0.5329. Already in the next hour, the price weakens and pulls back below the 0.5300 level. Today, we saw a continuation to the bearish side and a pullback to the 0.5220 level. We meet the EMA200 moving average in this zone and expect possible support. If the bearish pressure prevails, Ripple will have to descend to a new daily low.
Potential lower targets are 0.5200 and 0.5180 levels. We need a positive consolidation and recovery above the 0.5280 level for a bullish option. With that, we start the recovery and hope for further recovery to the bullish side. Potential higher targets are 0.5300 and 0.53200 levels.
Tron chart analysis
Tron price has been in a steady bullish consolidation since Monday. We are now at the 0.114735 level and close to breaking above the resistance zone at 0.114900. A jump above 0.115000 could initiate a positive consolidation trend. Potential higher targets are 0.115500 and 0.116000 levels. With this step, we skip last week’s high.
For a bearish option, we need a negative consolidation and pullback below the 0.114500 level. Here we are within reach to test the EMA50 moving average. If we do not get its support, a pullback below will follow and thus confirm the bearish option. Potential lower targets are 0.114000 and 0.113500 levels. Additional support is the EMA200 moving average in the 0.113775 zone.
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