Ripple and Tron: Ripple faces new resistance on Thursday
- This week, the Ripple price is constantly under pressure from the EMA 200 moving average
- Yesterday, new support for the Tron price was formed at the 0.152000 level
Ripple chart analysis
This week, the Ripple price is constantly under pressure from the EMA 200 moving average. It is now at 0.5400 and trying to move above the moving average again. For something like that, we need a new impulse, at least up to the 0.5500 level. This would give the price some room to consolidate above before resuming the bullish side. Potential higher targets are the 0.5550 and 0.5600 levels.
For a bearish option, we need a negative consolidation and a new pullback down to 0.5300 at the weekly open level. This time, a new visit to this zone could make a breakout below and move the price of Ripple to the downside. We expect that increasing pressure on the price to start a further retreat and form a new weekly low. Potential lower targets are 0.5200 and 0.5150 levels.
Tron chart analysis
Yesterday, new support for the Tron price was formed at the 0.152000 level. After that, the price gained new support and initiated a bullish consolidation again above the EMA 200 moving average. That further strengthened the bullish scenario, and we managed to get back above the weekly open price again. Tron gained additional momentum there and rose to the 0.154400 level. It is about to test the weekly high at 0.154944. If this trend continues, it could happen soon.
Potential higher targets are 0.155000 and 0.156000 levels. For a bearish option, we need a negative consolidation and a new descent back to the weekly open level. This level is very important for the future trend of Tron price. With the growth of bearish momentum, the price will pull back below the EMA 200 moving average. Increased pressure on Tron could easily push the price to a new weekly low and thus extend the bearish scenario. Potential lower targets are 0.151000 and 0.150000 levels.
The post Ripple and Tron: Ripple faces new resistance on Thursday appeared first on FinanceBrokerage.
