XRP (XRP) is the surprise winner of the day. It has pushed up by over 14% within a few hours. From the charts, XRP (XRP) has established strong support at the 200-day moving average at $0.27, before breaking out to the upside and touching a high of $0.326. Going by its increased positive momentum, XRP looks set to make even higher gains in the day, and could test the next key resistance point. That’s on the 200-day moving average level on the 12-hour chart. For a trader looking to make a day trade in XRP, it is best to wait it out until the price stabilizes.
That’s because after the massive gains it has made in the last 3 hours, XRP (XRP) is now trading at a key resistance level on the 6-hour 200-day moving average at $0.33. If it breaks above this price level, then it would be a good signal to go long with a target of $0.40. However, if this price level fails to hold and XRP drops back below $0.30, it would be more prudent to go short with a target of $0.278. That’s along the 100-day moving average level, a price level that is likely to offer significant support in the day.
IOTA (MIOTA) is currently trading in a range between $0.527 and $0.542. It has stabilized at this level after yesterday’s drop that saw it hit a low of $0.496. For an investor looking to trade in IOTA (MIOTA), it is best to wait it out for a break above this range. If it breaks outside of this price level to the upside above $0.545, it would be best to go long, with a target of $0.563. That’s the next key resistance level it could test on the 200-day moving average. A break above that level could see it rise to $0.584, which is the next key resistance point in the day chart.
On the other hand, if it breaks to the downside and drops below $0.516, then it would be best to go short, with a target of $0.48. That’s a key support level on theS 12-hour chart, one that will most likely hold in case of a price break to the downside. If IOTA (MIOTA) doesn’t break outside of this range within the next 6 to 12 hours, then it could see its value remain there for the next 24 hours.
Tron (TRX) has made some gains in the last 3 hours. It has pushed up from a low of $0.0181 to a high of $0.0194. Currently, it has broken above the 200-day moving average at $0.0192, an indicator that bulls could be in control of the market at this point in time. For a trader looking to get into Tron (TRX), $0.0193 would be a good price to buy, with a target of $0.020. That’s the next key resistance in the day.
However, if it drops below the 200-day moving average at $0.0192, and extends below $0.089, then it would be best to go short with a target of $0.0183. That’s the next key support level where it could hold in the next 24 hours.