Tron (TRX) has been on an uptrend for the last 4 days. It has been trading along the 21-day moving average, pushing from a low of $0.021 to today’s high of $0.0244. However, in the last 8 hours, Tron has retraced to $0.0229, which is now key support on the 55-day MA. Given that Tron has bounced off this support level, there is a good chance that it will be bullish in the day. A long entry made at $0.0236 would have a high probability of profit with a target of $0.0272. That’s the next major resistance level on the 200-day MA for the 12-hour chart, a good short-term exit point.
On the flipside, if Tron (TRX) breaks below the day’s low of $0.0229, there is a possibility that it could be headed lower in the day, with a target of $0.0222. That’s the next key support level on the 200-day moving average in the day, a price level at which, Tron (TRX) could rebound in the day.
Looking at stellar (XLM)’s 1-hour chart, it is clear that it’s having a low volumes day. The price bars are so spaced out from each other. This is validated by the fact that in the last 24-hours, it has been trading in a range between $0.244 and $0.248. However, in the last 2 hours, Stellar (XLM) has broken out to the downside, to hit a low of $0.239, which a key support level in the day. If it breaks below this support level, and extends below the week’s low of $0.237, it would make sense to go short with a target of $0.232. That’s the next key support level on the12-hour 200-day MA.
However, if Stellar (XLM) makes a push above the day’s range to the upside at $0.248, it would make sense to go long, with a target of $0.250. That’s the 200-day MA on the 1-hour chart, where it could reverse at in the day.
IOTA (MIOTA) has been largely bearish in the day. It opened the day at $0.581 before dropping to a low of $0.561. It seems to have found support at $0.561 since on the day’s 100-day MA. For someone looking to trade in IOTA (MIOTA) in the day, the 200-day MA at $0.563 is the price level to watch. That’s because it has consolidated above this price level for the last 5 hours. If in the day, IOTA (MIOTA) breaks below this level, and extends below the 100-day MA at $0.561, it would be prudent to go short with a target of $0.555. That’s the next major support level in the day, one that could offer a good exit point in the next 24 hours.
However if IOTA (MIOTA) breaks above this price level in the day and pushes above the 21-day MA at $0.572, it would make sense to go long with a target of $0.581. That’s the next major resistance level in the day, since IOTA has reversed at this price level in the recent past. If it breaks above $0.581, then IOTA could start next week in bullish territory, with a possible break above $0.60 in the course of the week.