Ripple and Tron: Tron in a bearish trend falls to 0.130000
Ripple’s price is in retreat after Monday’s jump to the 0.7484 level.
Tron’s price continues bearish consolidation, dropping to 0.130402 levels this morning.
Ripple chart analysis
Ripple’s price is in retreat after Monday’s jump to the 0.7484 level. On Tuesday, we saw a low form at 0.6600. After that, the price tried to initiate a bullish consolidation but encountered resistance at the 0.7000 level. Only today did we see a certain positive movement because the price broke the 0.7000 level. We now expect to maintain above that level and start a further recovery. Potential higher targets are the 0.7100 and 0.7200 levels.
We would have to break below the 0.6800 level for a bearish option. We fall one step below the EMA50 moving average, which would only strengthen the bearish momentum. After that we can expect a continuation to the bearish side and a drop in Ripple price to new support. Potential lower targets are 0.6700 and 0.6600 levels. Additional support for the bullish trend is the EMA200 moving average in the zone around 0.6600.
Tron chart analysis
Tron’s price continues bearish consolidation, dropping to 0.130402 levels this morning. The price is under such a strong bearish trend that it fails to move above the EMA50 moving average, at least for a short time. At the start of this week, we were at the 0.133879 level, and by this morning, the price had fallen by 2.6%. Bearish momentum remains in play, and potential lower targets are the 0.130000 and 0.129000 levels.
We need a positive consolidation and a move above 0.132000 and the EMA50 moving average for a bullish option. Then we need to stay up there and form a new bottom there. After that, we can expect to see a bullish consolidation and continued Tron recovery. Potential higher targets are 0.133000 and 0.134000 levels.
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