Ripple and Tron: Tron at the support level of 0.125000

Ripple chart analysis

Ripple’s two-week low was formed yesterday morning at the 0.4871 level. A quick consolidation at that level leads to initiating a bullish impulse above the 0.5000 level. We continued further last night all the way to the 0.5120 level. There, we encountered the EMA200 moving average, which slowed down the progress, after which we started to pull back. This morning, we had one bearish impulse to the 0.4975 level but are back above the 0.5000 level.

We expect to get better support at this level in order to try to make a more concrete recovery. Potential higher targets are 0.5150 and 0.5200 levels. We need a pullback below 0.4950 and the weekly open price for a bearish option. This moves us to the negative side, and we will be under pressure to slide even lower. Potential lower targets are 0.4900 and 0.4850 levels.

Tron chart analysis

Over the weekend, the price of Tron rose to 0.127627 levels. There, we were at a two-month high, after which there was a slowdown and a mild bearish consolidation. On Monday, we break below the first support in the EMA50 moving average, reinforcing the bearish consolidation below the 0.126000 level. This morning, we saw a continuation of the decline all the way to the 0.124800 level. In this zone, we meet the EMA200 moving average and hope for its support.

The price is still under pressure, and a bearish impulse could send us to a new weekly low below the EMA200. Potential lower targets are 0.124000 and 0.123000 levels. We need a positive consolidation and a move above the 0.126000 level for a bullish option. If we move up there, it would be a good step for our recovery. Potential higher targets are 0.127000 and 0.128000 levels.

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