Ripple and Tron: Ripple at resistance at 0.600 level
- Yesterday, the price of Ripple surged to the $0.6060 level, after which we witnessed a strong bearish impulse and a drop to the $0.5310 level.
- Yesterday’s attempt by the price of Tron to climb to the weekly high at the $0.144371 level was halted at the $0.144256 level.
Ripple Chart Analysis
Yesterday, the price of Ripple surged to the $0.6060 level, as a result, we witnessed a strong bearish impulse and a drop to the $0.5310 level. We didn’t stay down there for long, as the price returned above $0.5700 and the EMA200 moving average. From there, we see a bullish consolidation that brings us back into the zone around the $0.6000 level. The movement is stable, and we expect to see a continuation on the bullish side with the formation of a new price high.
Potentially higher targets are the $0.6100 and $0.6200 levels. If we fail to hold above the $0.6000 level, the price could initiate a negative consolidation and first drop below the $0.5900 level. This drop would start a retracement and a search for new support. Potential lower targets are the $0.5800 and $0.5700 levels. The EMA200 is lower at the $0.5600 level.
Tron Chart Analysis
Yesterday’s attempt by the price of Tron to climb to the weekly high at the $0.144371 level was halted at the $0.144256 level. From that level, a strong bearish impulse followed to the support at the $0.139000 level. In that zone, we encounter the EMA200 and bounce back upwards, returning to the $0.142000 level. We successfully hold there and initiate a bullish consolidation that moves us to today’s high at the $0.143679 level.
We need a breakthrough above if we plan to continue on the bullish side. Potentially higher targets are the $0.144000 and $0.144500 levels. For now, we are below the daily high and retracting to the $0.142700 level. Tron is under pressure to descend to test the morning support zone. Potential lower targets are the $0.141500 and $0.141000 levels.
