- Ripple price moved in the range of 0.5690-0.6100 in the previous two days.
- The price of the throne fell to the level of 0.110294 yesterday.
Ripple chart analysis
Ripple price moved in the range of 0.5690-0.6100 in the previous two days. Last night we saw that the price had the strength to break above that level, and we rose to the 0.6200 level. With this move, we are moving above the 200 moving average and we expect to receive its support to continue the uptrend. Possible higher targets are the 0.6300 and 0.6400 levels. Ripple price rose this week at the level of 0.6694.
We need to break below the 200 EMA and up to the 0.600 level to get a bearish option. This shows us that the price does not have enough strength to continue rising and continue to decline. Additional resistance is the 50 moving average, which is now on the downside thus reinforcing the downside momentum. Possible lower targets are 0.5900 and 0.5800 levels.
Tron chart analysis
The price of the throne fell to the level of 0.110294 yesterday. After that, TRON managed to hold higher until last night, when we saw a bullish consolidation and a move above the 0.118000 level. There, we get support from the EMA50, which strengthens the bullish momentum until the 0.12200 level. This morning, we were moving in a range of 0.121000-0.122000. We are now close to testing the upper level of this range and expect a break above it and a continuation of the uptrend.
Possible higher targets are 0.123000 and 0.124000 levels. Additional resistance for the bullish option in the area around 0.124000 is the EMA200 moving average. We need a negative consolidation pullback to 0.120000 and the EMA50 for a bearish option. New pressure in that area could easily drop Tron to a new daily low thus confirming a price pullback. Possible lower targets are 0.119000 and 0.118000 levels.
