Ripple and Tron: Ripple under less pressure at 0.6250 level

• Ripple’s new weekly low was formed this morning at the 0.6025 level.
• Tron price continues bullish consolidation after last week’s decline.

Ripple chart analysis

Ripple’s new weekly low was formed this morning at the 0.6025 level. We managed to hold above and initiate a bullish consolidation to the 0.6250 level. Here, we meet the EMA200 and hope to move above to continue the recovery to the bullish side. At the 0.6325 level, we will test the weekly open price, and by crossing above it, we become very bullish and expect further growth of Ripple.

Potential higher targets are 0.6350 and 0.6400 levels. For a bearish option, we need a negative consolidation and pullback below the 0.6200 level to start. This moves us to the bearish side, and both moving averages are now above us and will put pressure to see further declines. Potential lower targets are 0.6100 and 0.6050 levels.

Tron chart analysis

Tron price continues bullish consolidation after last week’s decline. Tuesday and Wednesday were bearish for the price after rising to the 0.122450 level. After that, we watched a bearish consolidation until Wednesday evening at the 0.119000 level. There we get new support and form a higher low compared to the previous one from Monday. After gaining new support, Tron starts a bullish consolidation and rises to the 0.120100 level.

We are climbing above the EMA50 moving average and expect to see a continuation to the bullish side. Potential higher targets are 0.120500 and 0.121000 levels. Additional resistance could be found in the EMA200 moving average. We need a negative consolidation and pullback to 0.119000 previous support for a bearish option. Thus, we increase the pressure on that level, which could cause the price of Tron to slide below to a new low. Potential lower targets are 0.118500 and 0.118000 levels.