Ripple and Tron: Ripple falls below the 0.5000 mark

•     Ripple price has been under downward pressure since the beginning of this week.
•     This morning Tron price fell to a new weekly low at 0.108587.

Ripple Chart Analysis

Ripple price has been under downward pressure since the beginning of this week. Yesterday we fell to a new weekly low at 0.4722. From there we initiated a limited recovery to the 0.5030 level. With new resistance, we begin a further pullback to the 0.4850 level. We have become pessimistic and expect a decline to a new daily low. Possible lower targets are 0.4800 and 0.4750.

For a bullish option, we need a positive consolidation and a return to the 0.5050 level. This puts us back above the weekly opening price and on the verge of testing Wednesday’s previous high at 0.5100. Then we have to stay there and form the bottom from which we can easily start Ripple’s growth. Possible higher targets are 0.5150 and 0.5200.

Tron Chart Analysis

This morning Tron price fell to a new weekly low at 0.108587. We have been in a downtrend since the beginning of this week and there is every chance we will see a continuation and a pullback to new lower levels. Trona’s maximum price today is 0.10100, and if we plan to introduce a bullish option, we need to jump over this level. At the 0.110800 area, we encountered the EMA50, which could add pressure to the weakened Tron price.

By crossing the EMA50 and 0.111000 levels, we climb to a better position from which we would continue the recovery to the bullish side. Possible higher targets are 0.111500 and 0.112000. Tron will be forced to slide to a new weekly low if the previous bearish consolidation continues. Possible lower targets are 0.108500 and 0.108000.