Ripple and Tron: Tron descends to a new weekly low
- On Sunday evening, the Ripple price dropped to 0.5446, forming a new three-week low
- Tron’s price has just dropped to a new weekly low at 0.152358
Ripple chart analysis
On Sunday evening, the Ripple price dropped to 0.5446, forming a new three-week low. After that, on Monday, we saw the initiation of a bullish consolidation and price growth above the 0.5600 level and the EMA 50 moving average. This led us to continue the work and climb the Eutros above 0.5700 and the EMA 200 moving average. Ripple is now trying to continue above and strengthen the bullish momentum.
Potential higher targets are the 0.5750 and 0.5800 levels. For a bearish option, we need a negative consolidation and a return below the 0.5600 level. Thus, we move away from our previous high and strengthen the bearish momentum. Potential lower targets are the 0.5550 and 0.5500 levels.
Tron chart analysis
Tron’s price has just dropped to a new weekly low at 0.152358. Over the weekend, we saw a breakout below the EMA 200 moving average, which only added to the bearish momentum. On Monday, we tried to initiate a bullish consolidation, but we were stopped at the 0.156900 level. From there, this week’s bearish consolidation, which is current even now, was initiated. Potential lower targets are the 0.152000 and 1.151000 levels.
For a bullish option, we need a positive Tron price consolidation above the 0.154000 level. After we stabilize there, we will have an opportunity to continue on the bullish side and return above the weekly open price. This would put us back on the positive side and increase the chances of recovery. Potential higher targets are 0.157000 and 0.158000 levels.
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