Ripple and Tron: Tron under pressure EMA200 looks bearish
- On Sunday, the price of Ripple fell to a new low at the 0.5080 level.
- Last week’s bullish trend in the price of Tron was stopped on Sunday evening at the 0.115224 level.
Ripple chart analysis
On Sunday, the price of Ripple fell to a new low at the 0.5080 level. Fortunately, we did not stay down for long but quickly recovered to the 0.5130 level. On Monday, we continued our recovery to the 0.5200 level. In this zone, we encounter the EMA200 moving average and have resistance in it for now. Today’s price movement is in the 0.5180-0.5220 range. On the downside, we are supported by the EMA50 moving average and the price moves in an increasingly narrow range.
We need a strong bullish impulse that would push us to the 0.5240 level and thus give room for consolidation above the EMA200. Potential higher targets are 0.5260 and 0.5280 levels. We need a drop below the EMA50 moving average and the 0.5180 level for a bearish option. This breaks the previous bullish formation. Potential lower targets are 0.5160 and 0.5140 levels.
Tron chart analysis
Last week’s bullish trend in the price of Tron was stopped on Sunday evening at the 0.115224 level. After that, on Monday morning, we saw a strong price drop to the 0.112910 level. Continuing so far, Tron is trying to hold above that level, but the pressure is creating the EMA200 moving average. This morning, we had a bullish consolidation to the 0.114500 level, where we are encountering new resistance.
Bearish momentum from there moves us back below the EMA200, and Tron is now under pressure to continue on the bearish side. Potential lower targets are 0.112500 and 0.112000 levels. We need a positive consolidation and maintenance above the EMA200 for a bullish option. If we succeed in that, we could start a new recovery. Potential higher targets are 0.114500 and 0.1150000 levels.
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