Ripple continues bearish trend, Tron falls below 0.118000

• The price of Ripple continues its bearish trend from last week at the start of this week.
• Over the weekend, the Tron price barely managed to hold above the 0.124000 level. 

Ripple chart analysis

The price of Ripple continues its bearish trend from last week at the start of this week. Price pressure increased on Friday after falling below the EMA200 moving average. We fell to a new weekly low at the 0.5870 level this weekend. Last night, we had one bullish attempt at the 0.6700 level.

We were up there for a very short time and didn’t manage to stay at that level. After that we see a drop below 0.6300 and again below the EMA200 moving average.

It pushed to a new low this week at 0.5717. We remain under that pressure because we are in the zone around the 0.5850 level. Potential lower targets are 0.5700 and 0.5600 levels. If we return above 0.6000, we will have a better chance to stabilize there and start further growth from there. Potential higher targets are 0.6100 and 0.6200 levels.

Tron chart analysis

Over the weekend, the Tron price barely managed to hold above the 0.124000 level. As this week began, Tron weakened and continued the previous bearish consolidation. This formed a low at the 0.123000 level yesterday. After that, the price tried to start a recovery, but it was stopped at the 0.124100 level. From there, a new strong bearish consolidation is initiated, bringing Tron down to a new March low at the 0.116070 level.

Potential lower targets are 0.115000 and 0.114000 levels if further negative consolidation continues. We need a positive consolidation above the 0.119000 level for a bullish option. If we managed to get back above, we would significantly move away from the previous low. Potential higher targets are 0.120000 and 0.121000 levels.