Ripple and Tron: Ripple under pressure below 0.4850 level
- In the past two days, the price of Ripple has been moving in the 0.4800-0.4980 range.
- The price of Tron on Tuesday made an impulse up to the 0.119720 level.
Ripple chart analysis
In the past two days, the price of Ripple has been moving in the 0.4800-0.4980 range. Last night, we tested the upper level of the rank, and we did not manage to break above. This caused the price to start a pullback and move back down towards the 0.4800 level. Additional pressure on the price is the EMA50 moving average, which is now on the bearish side and negatively affects the movement of Ripple.
Potential lower targets are 0.4750 and 0.4700 levels. We need a positive consolidation and price return up to the 0.5000 level for a bullish option. We test the weekly open price and the EMA200 moving average. With the momentum above, we go to a new weekly high and move to the positive side. Potential higher targets are 0.5050 and 0.5100 levels.
Tron chart analysis
The price of Tron on Tuesday made an impulse up to the 0.119720 level. There, we saw the formation of a new weekly high. We stayed up there for a short time because there was a quick retreat back to the previous range of movement. Yesterday and today, the price moved in the 0.115750-0.116750 range. We do not have the strength to move above the 0.118000 level and break this sideways consolidation.
Tron is currently under bearish pressure and is getting closer to the EMA200 moving average at 0.115700. If this movement continues, the price could easily slip below to a new daily low. Potential lower targets are 0.115000 and 0.114000 levels. We need a positive consolidation and price growth up to the 0.118000 level for a bullish option. Then, we need to stabilize there in order to continue with the recovery. Potential higher targets are 0.119000 and 0.120000 levels.
The post Ripple and Tron: Ripple under pressure below 0.4850 level appeared first on FinanceBrokerage.
