XRP (XRP) has made some huge gains today, pushing from a low of $0.438 to a high of $0.575. However, in the last 8 hours, it has retraced to around $0.530, along the 100-day moving average, which is now support. To trade in XRP (XRP) with a higher profit probability, it’s best to wait for a push over or below this level. If XRP (XRP) makes a push below this price level, a short order would give the most promise, with a target of $0.495 on the 55-day MA. A drop below this could this could see it drop to a low of $0.472 on the 200-day moving average.
However, if $0.53 holds, and XRP rises above the day’s high of $0.574, it would be ideal to buy with a target of $0.626. That’s the last high it has hit in the last 4 days, and a highly probable intra-day reversal point. If it breaks above it, XRP could test a high of $0.71. But, if volumes don’t rise in the next 24 hours, then XRP (XRP) could range at $0.531 – $0.574.
IOTA (MIOTA) has made some significant gains in the last 24 hours, rising from a low of $0.524 to a high of $0.578 along the 100-day moving average. This price level is now acting as a key resistance level, and IOTA has failed to break above it in the day. In the last 5 hours, IOTA (MIOTA) has retraced, and is now trading close to $0.554, which is now offering key support along the 55-day moving average.
For someone looking to make a 24-hour trade in IOTA (MIOTA), it would be best to wait for a break outside of either the $0.578 or $0.554. If IOTA (MIOTA) breaks above $0.578, it would be best to go long with a target of $0.60. That’s the next major resistance level for IOTA in the day. However, if the price of IOTA (MIOTA) breaks below $0.554, it would be more prudent to go short, with a target of $0.524.
Ethereum Classic (ETC)
Ethereum Classic (ETC) has made a significant push in the last 24 hours, from a low of $10.39 to a high of $11.37. However, it seems to be facing some resistance around $11.18, along the 100-day moving average. It has already bounced off it, to test the 55 day-MA support at $10.89. To profitably trade in Ethereum Classic (ETC), a buy order would best placed if it breaks past the 100-day moving average at $11.18, which could see it possibly rise to $11.56.
Alternatively, if Ethereum Classic (ETC) drops below $11.06, a short order would offer the best risk-reward, if an intra-day exit is made at $10.38. That’s intra-day support, and possible reversal point for ETC.