Connect with us

Hi, what are you looking for?

Trading Secrets

Ripple and Tron: Ripple at resistance at 0.600 level

Ripple and Tron: Ripple at resistance at 0.600 level

Yesterday, the price of Ripple surged to the $0.6060 level, after which we witnessed a strong bearish impulse and a drop to the $0.5310 level. Yesterday’s attempt by the price of Tron to climb to the weekly high at the $0.144371 level was halted at the $0.144256 level.

Ripple Chart Analysis

Yesterday, the price of Ripple surged to the $0.6060 level, as a result, we witnessed a strong bearish impulse and a drop to the $0.5310 level. We didn’t stay down there for long, as the price returned above $0.5700 and the EMA200 moving average. From there, we see a bullish consolidation that brings us back into the zone around the $0.6000 level. The movement is stable, and we expect to see a continuation on the bullish side with the formation of a new price high.

Potentially higher targets are the $0.6100 and $0.6200 levels. If we fail to hold above the $0.6000 level, the price could initiate a negative consolidation and first drop below the $0.5900 level. This drop would start a retracement and a search for new support. Potential lower targets are the $0.5800 and $0.5700 levels. The EMA200 is lower at the $0.5600 level.

Tron Chart Analysis

Yesterday’s attempt by the price of Tron to climb to the weekly high at the $0.144371 level was halted at the $0.144256 level. From that level, a strong bearish impulse followed to the support at the $0.139000 level. In that zone, we encounter the EMA200 and bounce back upwards, returning to the $0.142000 level. We successfully hold there and initiate a bullish consolidation that moves us to today’s high at the $0.143679 level.

We need a breakthrough above if we plan to continue on the bullish side. Potentially higher targets are the $0.144000 and $0.144500 levels. For now, we are below the daily high and retracting to the $0.142700 level. Tron is under pressure to descend to test the morning support zone. Potential lower targets are the $0.141500 and $0.141000 levels.

The post Ripple and Tron: Ripple at resistance at 0.600 level appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...