By Ripple and Tron: Targets and support levels for Thursday
- The price of Ripple on Wednesday retreated to 0.5120, a new weekly low
- The Tron price continued on Thursday, October 24, with a bullish consolidation to the 0.163265 level
Ripple chart analysis
The price of Ripple on Wednesday retreated to 0.5120, a new weekly low. After a short consolidation in that zone, a recovery to the 0.5300 level was initiated. We now encounter the opposite and retreat to the daily open level. Ripple could find new support here and turn bullish again. Potential higher targets are 0.5350 and 0.5400 levels.
The price in the 0.5400 zone will meet the EMA 200 moving average before continuing further to the bullish side. For a bearish option, we need a negative consolidation and a drop below the daily open level. With that step, Ripple descends to a new daily low and confirms the return to the bearish side. Potential lower targets are 0.5200 and 0.5150 levels.
Tron chart analysis
The Tron price continued on Thursday, October 24, with a bullish consolidation to the 0.163265 level. A weekly high was formed there. Strong bullish momentum is still active, and we expect further progress on the bullish side. Potential higher targets are 0.164000 and 0.165000 levels. At 0.163978, we will test the October high.
For a bearish option, Tron needs to drop below the 0.162000 level first. With that step, we will form a new low that would indicate a further pullback of the price. At 0.161000, we will test the zone of this morning’s break to the bullish side. If we don’t have new support there either, Tron could make a deeper pullback below the 0.160000 level. Potential lower targets are 0.159000 and 0.158000 levels.
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