Ripple and Tron: Tron broke above 0.124000 on Friday

• The price of Ripple continues the bearish trend, retreating yesterday to a new seven-day low at the 0.4988 level.
• The price of Tron rose to 0.124011 levels on Friday.

Ripple chart analysis

The price of Ripple continues the bearish trend, retreating yesterday to a new seven-day low at the 0.4988 level. After that, we saw a recovery attempt that was stopped at the 0.5200 level. Additional pressure in that zone was created by the EMA200, which directed us to the bearish side. That happened, and Ripple retreated to the 0.5100 level.

We remain under pressure to break down to the 0.5000 support level and test yesterday’s low. Potential lower targets are 0.4950 and 0.4900 levels. We need positive consolidation and momentum above the 0.5250 level for a bullish option.

Then we have to hold our own up there. If we succeed, we will have the opportunity to start a continuation of the positive consolidation to the bullish side from there. Potential higher targets are 0.5300 and 0.5400 levels.

Tron chart analysis

The price of Tron rose to 0.124011 levels on Friday. Last week was very good for Tron, especially since we moved above the EMA200 moving average. After Friday’s jump, we saw a pullback to support at the 0.119000 level on Saturday.

From there, a bullish consolidation was initiated to a new high at the 0.123352 level. Monday brings new price volatility and pullback to the 0.117704 level.

There we approached the EMA200 moving average, and the price successfully formed a bottom and started a positive consolidation up to the 0.120500 level. We expect to continue the recovery and move above the weekly open price at the 0.121337 level. Potential higher targets are 0.122000 and 0.123000 levels.