Ripple and Tron: Ripple is recovering to the 0.5600 level
- In the previous hour, the price of Ripple climbed to a new weekly high at the 0.5653 level.
- Over the weekend, Tron prices were consolidating in the 0.137000-0.318000 range.
Ripple chart analysis
In the previous hour, the price of Ripple climbed to a new weekly high at the 0.5653 level. Monday started badly, and we saw the first drop to the support level at 0.5300. There, we find support and initiate a consolidation that takes us above 0.5500 and the EMA200 moving average. With his support, it was very easy for us to start a bullish consolidation and form a weekly high.
Potential higher targets are 0.5700 and 0.5800 levels. Last week’s high price of Ripple was at the 0.5769 level. We need a negative consolidation and pullback to the 0.5500 support level for a bearish option. This would break the previous bullish structure. The price would come under renewed pressure around the EMA200 moving average. Potential lower targets are 0.5450 and 0.5400 levels.
Tron chart analysis
Over the weekend, Tron prices were consolidating in the 0.137000-0.318000 range. Monday brings us a new bullish consolidation from that zone, which today climbs to the 0.141360 level. With this, we formed a new weekly low, and we can expect to start further growth and recovery on the bullish side. Potential higher targets are 0.142000 and 0.143000 levels.
We need a negative consolidation and a return to the 0.140000 level for a bearish option. That’s where we would test the price of the day. A break below would mean that we have moved away from the bullish path. Potential lower targets are 0.139000 and 0.138000 levels. Additional price support is the EMA200 moving average at the 0.137500 level.
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