Ripple chart analysis

The Ripple price made a strong bullish impulse to the 0.6437 level yesterday after the support at the 0.5000 level. A new weekly high was formed at that level. After that, the price makes a retreat to a new support at the 0.5800 level. We are successfully maintaining there as well and returning above the 0.6000 level again. We are now at 0.6150 and expect to see further progress to the bullish side.

Potential higher targets are the 0.6400 and 0.6600 levels. For a bearish option, Ripple would have to break down to the 0.6000 level. There, we will test the daily open price. With a drop below, we will form a new daily low, which confirms the increase in bearish momentum. This could cause another deeper drop to lower levels. Potential lower targets are the 0.5800 and 0.5600 levels.

(Click on image to enlarge)

Tron chart analysis

Tron’s price continued its recovery and bullish consolidation today. A daily high was formed at the 0.126000 level. There is a good chance that we will see a continuation of the bullish side and a return above the weekly open price and the EMA 200 moving average. With the support of the EMA 200, we can expect the strengthening of the bullish momentum and further recovery of the price. Potential higher targets are the 0.127000 and 0.128000 levels.

For a bearish option, we need a negative consolidation and a price return below the 0.125000 level. This brings us back to testing the daily open price. We will put additional pressure on the EMA 50 moving average. If the support is not enough, Tron will have to initiate a withdrawal and seek new support. Potential lower targets are 0.12300 and 0.12200 levels.

(Click on image to enlarge)

More By This Author: