- A new weekly low for Ripple was formed this morning at the 0.6025 level.
- Tron price continues its upward consolidation after last week's decline.
Ripple chart analysis
A new weekly low for Ripple was formed this morning at the 0.6025 level. We were able to hold above and start an upward consolidation to the 0.6250 level. Here, we meet the 200 EMA and hope to move above it to continue the recovery to the upside. At level 0.6325, we will test the weekly opening price, and above it we become very bullish and expect further growth for Ripple.
Possible higher targets are 0.6350 and 0.6400 levels. For the bearish option, we need negative consolidation and a pullback below the 0.6200 level to start. This moves us to the downside, both moving averages are now above us and will push to see further declines. Possible lower targets are 0.6100 and 0.6050 levels.
Tron chart analysis
Tron price continues its upward consolidation after last week's decline. Tuesday and Wednesday were bearish for the price after it rose to the 0.122450 level. After that, we saw a bearish consolidation until Wednesday evening at the 0.119000 level. There we get new support and form a higher low compared to the previous level from Monday. After getting new support, Tron starts an upward consolidation and rises to the 0.120100 level.
We are climbing above the EMA50 and expect to see a continuation to the upside. Possible higher targets are 0.120500 and 0.121000 levels. Additional resistance can be found at the EMA200 moving average. We need a negative consolidation and a pullback to previous support at 0.119000 for a bearish option. Therefore, we increase the pressure on this level, which may cause the tron price to fall to a new low. Possible lower targets are 0.118500 and 0.118000 levels.
