Investing 11-06-2024 14:03 2 Views

Ripple and Tron: Tron is recovering this morning at 0.117933

Ripple and Tron: Tron is recovering this morning at 0.117933

Ripple price fell to 0.4541 level on Friday.  Tron price fell to the 0.110250 level on Friday, testing that previous support zone.

Ripple chart analysis

Ripple price fell to 0.4541 level on Friday. After that, the price returned to 0.4900, where it tried to hold. During the weekend, the movement took place in the 0.4900-0.5000 range. On Monday, we saw an attempt at a further rally to 0.5065, where we encountered new resistance. With the formation of a lower high at that place, a bearish consolidation and a drop below the weekend movement range were initiated.

Ripple went down to the 0.4800 level and formed this week’s low there. We are currently at the 0.4865 level and are trying to hold above this low. Potential lower targets are 0.4700 and 0.4600 levels. With the price stabilizing above 0.4800, we will have a new opportunity to initiate a bullish consolidation. Returning to the 0.5000 level zone will test the weekly open price and the EMA50 moving average.

 

Tron chart analysis

Tron price fell to the 0.110250 level on Friday, testing that previous support zone. The testing was successful, and the price is starting to recover, forming a new weekly high on Sunday. With that move, we jumped over the uncomfortable resistance zone at 0.115000. After that, the growth continued until this morning at the 0.117933 level. We stop there for now and make a pullback to the 0.116150 support level.

Here, we come across the EMA50 moving average and hope for its support and stay on the bullish side. Potential higher targets are 0.118000 and 0.119000 levels. We need negative consolidation below EMA50 and 0.116500 level for the bearish option. With that, we go to a new daily low and confirm the transition to the bearish side. Potential lower targets are 0.116000 and 0.115000 levels.

 

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