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Ripple and Tron: Tron falls to the 0.110294 support level

Ripple and Tron: Tron falls to the 0.110294 support level

The Ripple price moved in the 0.5690-0.6100 range in the previous two days. The price of the throne fell to 0.110294 level yesterday.

Ripple chart analysis

The Ripple price moved in the 0.5690-0.6100 range in the previous two days. Last night we saw the price have the strength to break above, and we climbed to the 0.6200 level. With that step, we move above the EMA200 and expect to receive its support in order to continue on the bullish side. Potential higher targets are 0.6300 and 0.6400 levels. This week’s Ripple high price is even higher at the 0.6694 level.

We need a drop below the EMA200 and up to the 0.600 level for a bearish option. This shows us that the price does not have enough strength to continue the rise and follow the pullback. An additional resistance is the EMA50, which is now on the bearish side and thus strengthens the bearish momentum. Potential lower targets are 0.5900 and 0.5800 levels.

Tron chart analysis

The price of the throne fell to 0.110294 level yesterday. After that, Tron managed to hold above until last night, when we saw a bullish consolidation and a move above the 0.118000 level. There, we get support from the EMA50 moving average, which reinforces the rising momentum up to the 0.12200 level. This morning, we were moving in the 0.121000-0.122000 range. We are now close to testing the upper level of that range and expect a break above and a continuation to the bullish side.

Potential higher targets are 0.123000 and 0.124000 levels. Additional resistance to the bullish option in the zone around 0.124000 is the EMA200 moving average. We need a negative consolidation pullback to 0.120000 and the EMA50 moving average for a bearish option. New pressure in that zone could easily drop Tron below to a new daily low and thus confirm the price pullback. Potential lower targets are 0.119000 and 0.118000 levels.

The post Ripple and Tron: Tron falls to the 0.110294 support level appeared first on FinanceBrokerage.

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