XRP (XRP) is having a stellar performance today. It has pushed up by over 60% to take up second position on market cap. But for those who missed the pump today, how is XRP (XRP) likely to perform in the next 24 hours? From the charts, XRP (XRP) is beginning to consolidate at around $0.57 and $0.61. This is due to profit taking, after a day of super normal returns. However, buying volumes are still high, an indicator that bullish sentiment is still prevalent. For an investor looking to buy into XRP, it is best to wait until it breaks above the day’s high of $0.792. A push above this price level could see XRP touch $0.95 in the next 24 hours. That’s the next key resistance level for XRP in the day.
However, in case XRP breaks below $0.559, it would be more prudent to go short, with a target of $0.47. That’s the next key support level in the day, one at which it could rebound from, in the next 24 hours. A break below this could see it drop to $0.36. However, such a huge downside break is highly unlikely given that it is still trading above the 200-day moving average on the day chart at $0.541.
Like the rest of the market, IOTA (MIOTA) has been bullish in the day. In the last 20 hours, it has been trading above the 200-day moving average at $0.557. In the course of the day, it has hit a high of $0.60, and it has since retraced back to $0.58. However, it is still holding above $0.557, which means that bulls are still in control of this market. For someone looking to take a buy position into IOTA (MIOTA), it is best to wait until it makes a break above $0.609. That would be a confirmation to go long, with a target of $0.732. That’s the next key resistance level in the day chart, one at which, it could range or reverse in the day.
On the other hand, if IOTA (MIOTA) breaks below $0.559, it would be best to go short with a target of $0.540. That’s the next key support level on the 100-day moving average.
Ethereum Classic (ETC)
Ethereum Classic (ETC) has rode the bullish wave in the market today quite well. It started the day above the 200-day support level at $10.93 and has been trading above it all through the day. However, after hitting a high point of $11.54, it has since retraced to a low of $11.14 on the 21-day moving average. This is an indicator that bulls are still strong in this market. To make a low-risk buy into Ethereum Classic (ETC), it would be best to wait until it breaks above the day’s high of $11.54. A buy entry at that point would be ideal with a possible exit point of $11.84. That’s the next key resistance level on the 100-day moving average on the 6-hour chart. A break above this level could see it test $12.89, a significant resistance point on the 6-hour 200-day moving average.
However, if in the course of the day Ethereum Classic (ETC) breaks below the 1-hour 200-day moving average at $10.93, it would be best to go short, with a target of $10.71. That’s the next major support level, on the 100-day moving average.