Ripple and Tron: Ripple boosts bullish momentum on Thursday
- The price of Ripple is climbing today to a new weekly high at 0.5669
- Tron’s price was bullish today, going up to the 0.160500 level
Ripple chart analysis
The price of Ripple is climbing today to a new weekly high at 0.5669. Not long after that, the price starts to pull back to the 0.5500 support level. For now, we are successfully holding above and waiting for the initiation of a new bullish consolidation again above the 0.5600 level. Then Ripple would have to stabilize there if it plans to stay on the bullish side. Potential higher targets are 0.5650 and 0.5700 levels.
For a bearish option, the Ripple price must pull back to the 0.5450 level. It moves below the daily open level and the EMA 50 moving average. Such a step strengthens bearish momentum until the 0.5400 and the EMA 200 moving average. In the previous testing of this zone, the price managed to stay on the positive side. Potential lower targets are 0.5350 and 0.5300 levels.
Tron chart analysis
Tron’s price was bullish today, going up to the 0.160500 level. At that level, we encountered resistance and pulled back to 0.159500, with EMA 200 moving average support. We need to hold here in order to have a chance to start another bullish consolidation to a new daily high. Potential higher targets are 0.161000 and 0.161500 levels.
For a bearish option, we need a positive consolidation and a break below the EMA 200 and 0.159500. Thus, we move to a new daily low and confirm the strengthening of the bearish momentum. After that, it remains for Tron to start a further retreat and look for a new support level. Potential lower targets are 0.159000 and 1.158500 levels. We had this week’s low price on Tuesday at 0.157674.
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