Ripple and Tron: Tron continues the bullish option
After a week, the price of Ripple has surged back above the EMA 200 moving average, currently standing at 0.4465 and forming a weekly high.
This week’s bullish Tron price consolidation is very strong.
Ripple chart analysis
After a week, the price of Ripple has surged back above the EMA 200 moving average, currently standing at 0.4465 and forming a weekly high. With the strong support of EMA 200, we anticipate a robust bullish trend and the potential to reach even higher levels. Excitingly, we’re eyeing the 0.4600 and 0.4700 levels as potential higher targets.
For a bearish scenario to unfold, Ripple’s price would need to dip below the EMA 200 moving average. This is a crucial indicator. We would then test the daily open price at 0.4400. The inability to hold this level, coupled with the pressure of the moving average, could prompt a downward shift and the formation of a new low. The support level from yesterday was at 0.4300, where we anticipate the price to initially fluctuate before a potential further decline. We’re keeping an eye on the 0.4250 and 0.4200 levels as potential lower targets.
Tron chart analysis
This week’s bullish Tron price consolidation is very strong. We see the formation of a new weekly high at the 0.134835 level. That will soon change rapidly, and we expect a new higher high to form. On Monday morning, we had weak Tron, but the price quickly consolidated and started a bullish scenario. Potential higher targets are the 0.135000 and 0.1360000 levels.
First, we need a negative consolidation and pullback below the 0.133000 level for a bearish option. If Tron falls below this price, it will move away from the previous bullish path. There will be increasing pressure on the price to continue its further pullback and look for new support. The daily open price is at the 0.131395 level. Potential lower targets are the 0.131000 and 0.130000 levels.
The post Ripple and Tron: Tron continues the bullish option appeared first on FinanceBrokerage.
