IOTA (MIOTA) has been trading in a range between $0.541 and $0.527 for the last 24 hours. However, in the past two hours, it has broken below this range to test a low of $0.511. This could be an indicator that bears are taking control over the IOTA market in the short-term. For a trader looking into IOTA (MIOTA), it is best to watch its price movements for the next 3 to 6 hours. If it doesn’t break back into the $0.541 – $0.527 range, then it would best to go short with a target of $0.482. That’s the next key support level on the 6 hour chart.
On the other hand, if IOTA breaks back into this price range, and above $0.541, it would be best to go long with a target of $0.559. That’s the next key resistance point on the 200-day moving average. However, this is fully dependent on the day’s volumes. As long as volumes remain low, then IOTA (MIOTA) could trade within the day’s range for the next 24 hours. Any volumes surges both by sellers or buyers could lead to a break outside of the current range, and create an opportunity to either go long or short.
Ethereum Classic (ETC)
Ethereum Classic (ETC) has been relatively bullish for the last 24 hours. It has gained from a low of $10.001 to a high of $10.81. However, in the last 6 hours, it has slightly retraced, and broken below the 21-day moving average, and is now trading at $10.40, a level at which, has ranged at in the 12 hours. For a trader looking to trade in Ethereum Classic (ETC), it would be best to wait it out, until the price breaks outside of the $10.40 support level.
If Ethereum Classic (ETC) breaks below this price level, and extends below the last low of $10.92, then it would be best to go short, with a target of $10.01, the last low it has hit in the last 24 hours, and one that could offer a good exit point for a 24 hour short order. On the other hand, if Ethereum Classic (ETC) pushes above $10.40 and extends above $10.70 on the 55-day moving average, it would be best to go long, with a target of $10.91. That’s the next key major resistance level on the 200-day moving average.
EOS (EOS) has been trading along a key resistance level on the 200-day moving average at $5.14. For the last 12 hours, it has been hitting this price level and reversing, a sign that EOS could be bearish in the day. This makes its current price level of $5 a good entry point for a short order with a target of $4.60.
That’s the lowest point it has hit in the last 24 hours, one at which, it might consolidate in the next 24 hours. However, if by any chance EOS (EOS) gains in value and pushes above $5.14 and extends above the 100-day moving average at $5.19, it would be best to go long, with a target of $5.45. That’s the next major resistance point in the day.