Economy

Ripple and Tron: Ripple has the chance for a new weekly high

Ripple and Tron: Ripple has the chance for a new weekly high

  • The price of Ripple has shown stability, managing to stay above the EMA200 moving average at the start of this week.
  • The price of Tron was in a strong bullish trend during June.

Ripple chart analysis

The price of Ripple has shown stability, managing to stay above the EMA200 moving average at the start of this week. This morning’s confirmation at the weekly open price is a positive sign. Now, we eagerly await an impulse to push us to the 0.4850 level, where we will test yesterday’s high. A break above this level and a climb to a new weekly high would provide a much-needed confirmation for a bullish continuation.

While the potential for higher targets at 0.4900 and 0.4950 levels is promising, we must also consider a bearish scenario. A negative consolidation and pullback below the EMA200 and the weekly open price could shift us to the bearish side, with a focus on last week’s lows. Potential lower targets are at 0.4700 and 0.4650 levels, urging caution in our analysis.

Ripple chart analysis

Tron chart analysis

The price of Tron was in a strong bullish trend during June. We started from 0.110100 to 0.130687 level. At the start of this week, we had a strange bearish impulse that pushed the price of Tron down to the 0.110821 level. This impulse lasted a few seconds as we immediately returned to the 0.128000 level. Today’s movement is calmer without major oscillations for now. Yesterday’s bearish impulse could indicate a reversal and a move to the bearish side.

The first support is the EMA50 moving average at the 0.126700 level. A break below leads to an increase in bearish momentum that could bring down the price of Tron. Potential lower targets are 0.124000 and 0.122000 levels. We need a positive consolidation and a move above the 0.129000 level for a bullish option. Thus, we move to the new weekly high and confirm the bullish scenario. Potential higher targets are 0.130000 and 0.132000 levels.

Tron chart analysis

The post Ripple and Tron: Ripple has the chance for a new weekly high appeared first on FinanceBrokerage.

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