Ripple and Tron: Ripple under pressure below 0.4550 level
- Ripple’s price faltered yesterday and fell below the EMA200 moving average.
- For the third day in a row, the price of Tron has been moving in the 0.127500-0.129700 range.
Ripple chart analysis
Ripple’s price faltered yesterday and fell below the EMA200 moving average. After that, we saw a bearish consolidation all the way to 0.4600. That’s where we got the first support, and then we recovered slightly to the 0.4700 level. We encountered new resistance this morning at that level, and a crushing bearish impulse brought us down to the 0.4455 level. Today’s bullish attempt was stopped at 0.4600, after which the price turned to the bearish side again.
The current bearish consolidation is pushing Ripple below 0.4525, directing it towards this morning’s low. If price pressure continues, a test of the previous low is very sure. Potential lower targets are 0.4450 and 0.4400 levels. With the new support, we will have the opportunity to start a positive consolidation. Growth above the 0.4600 level is the first sign that we are slowly recovering. Potential higher targets are 0.4650 and 0.4700 levels.
Tron chart analysis
For the third day in a row, the price of Tron has been moving in the 0.127500-0.129700 range. Today’s movement tells us that the price is under pressure, as the EMA50 moving average has moved to the bearish side. This leads to a slight bearish consolidation, and we could see a break below the lower line of the current moving range. With that step, the bearish momentum for the continuation of the pullback will increase.
Potential lower targets are 0.126000 and 0.125000 levels. Additional support is the EMA200 moving average in the zone of 0.125500 levels. We first need a retracement of the EMA50 moving average for a bullish option. Then, the price of Tron will have an opportunity to initiate a rally and test the upper line of this week’s range. A new visit to that zone could produce a bullish impulse and form a new weekly high. Potential higher targets are 0.130000 and 0.132000 levels.
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