Ripple Price Struggles: Lower Highs and Lows Explained
On Saturday, we saw the formation of a lower high for the Ripple price at the 0.5270 level. Today, we see a jump in Tron price to 0.12777086 level.Ripple chart analysis
On Saturday, we saw the formation of a lower high for the Ripple price at the 0.5270 level. This was followed by a negative consolidation and pullback below the EMA200 and 0.5100 levels. The decline did not stop there; we saw a continuation to the 0.5000 level on Sunday. The lower low was formed on Monday at the 0.4969 level. Since then, we have been in a two-day sideways consolidation in the 0.4670-0.5100 range.
For now, we are in a mild bullish trend by moving the lows up. We need a stronger bullish impulse to take us back to 0.5100 and a test of the EMA200 moving average. A move above would get us out of the bearish embrace, and after that, we could expect to see further recovery. Potential higher targets are 0.5150 and 0.5200 levels.
Tron chart analysis
Today, we see a jump in Tron price to 0.12777086 level. With this jump, we were able to return to November 2021. After two and a half years, Tron managed to climb everything to this level. After this success, the price makes a retreat to the 0.12200000 level. Last week, we saw the price break away from the EMA200 and moved strongly to the bullish side, which resulted in this morning’s jump.
The current pullback could take us to the EMA200 in search of new support before we start a further recovery. Potential lower targets are 0.12000000 and 0.11800000 levels. We need a new momentum for a bullish option to trigger a positive consolidation and further recovery. Potential higher targets are 0.12400000 and 0.12600000 levels.
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