Ripple and Tron: Ripple was below 0.4000 last Friday
- A new July low for the price of Ripple was formed on Friday at the 0.3814 level.
- The price of Tron fell to the 0.123000 level on Monday morning.
Ripple chart analysis
A new July low for the price of Ripple was formed on Friday at the 0.3814 level. We quickly bounced back to 0.4000 and consolidated there. After that, the price starts to recover and rises to the 0.4500 level on Saturday. On Sunday, we again turned to the bearish side, and on Monday morning, we tested the 0.4000 level again. Ripple managed to consolidate there again and start a new recovery. The weekly high was formed yesterday at the 0.4400 level, after which we saw a drop to support at the 0.4200 level.
Today’s movement is in the 0.4200-0.4350 range, with a slight bullish consolidation. We need a new rally to the 0.4400 level to test the EMA 200 moving average there. A push to 0.4500 would move the price above to the positive side. After that, it will be easier for us to start further recovery. Potential higher targets are the 0.4600 and 0.4700 levels.
Tron chart analysis
The price of Tron fell to the 0.123000 level on Monday morning. After forming a low at that level, we see the initiation of a positive consolidation that continues today. The price has risen to 0.128500 and is on its way to the previous weekend’s high. If this week’s trend continues, Tron could soon return above the 0.130000 level. Potential higher targets are the 0.131000 and 0.132000 levels.
We need a negative consolidation and a return to the EMA 200 moving average and 0.126500 for a bearish option. The impulse below will strengthen the bearish momentum, which will negatively affect the further movement of the price of Tron. The next support is the weekly open price at 0.124500. Falling below will intensify the pressure that will bring us down to a new weekly low. Potential lower targets are the 0.124000 and 0.123000 levels.
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