IOTA (MIOTA) has been largely been bullish in the last 24 hour, and at some point got to a high of $0.599. However, it has since retraced to the 100-day MA at $0.559. It’s now trading between the 100-MA which is support, and the 200-day MA, which is now an intra-day resistance level. For a low risk trade in this crypto, waiting for it a break outside of this range would work best move. In the scenario that IOTA (MIOTA) gains buying momentum at this point and rises above $0.574 on the 200-day MA, a long position would offer the best risk/reward potential.
If IOTA gains bullish momentum at this level, chances are that its next resistance level will be at $0.611. But if IOTA (MIOTA) pushes below $0.559, then it could potentially touch a low of $0.531. This is a low it has hit in the last 24 hours, and could be a good exit point for a short-term sell order.
In the last 24 hours, Tron (TRX) has had some mixed fortunes in the market. It rose from a low of $0.0205 to hit a high of $0.0231 in the day. However, it has since dropped to a low of $0.021. It is now trading between two major moving averages, the 100 day MA, and the 200 MA. The 100 MA at $0.021 is support, while the 200 MA at $0.022 is a key resistance level. For a high potential trade in Tron (TRX), waiting for it to rise or fall below this price level.
If it pushes above the 200 day MA, Tron would be a high probability buy with a target of $0.024, which is a major resistance level in the day. On the other hand, if Tron (TRX) pulls below the 100 day MA at $0.021, it would be most ideal to sell it, with an exit point of $0.02. That’s a key support level in the day, one that could offer a good exit point.
Ethereum Classic (ETC)
Ethereum Classic (ETC) has been on a downtrend for the last couple of hours, after getting to a high of $11.63. It is currently trading along a key support level of $11.21 along the 200 MA. For a high probability trade, it’s best to wait until it breaks below the 200 MA at $11.21, which would be an indicator of bearish sentiment. A short entry below this level would have a possible exit target of $10.89 on the 55-day MA.
On the other hand, if ETC pushes above the 21-day MA at $11.41, it could signal bullish sentiment, and would be an opportunity to go long with a possible exit point of $11.63, the last high it has hit in the last 24 hours. However, for a great trade it would be prudent to correlate price with market volumes. Market volumes tend to drop over the weekend, and if they do, could lead the market to trade in a range all through the weekend.