Bitcoin, IOTA, Monero

IOTA (MIOTA)

IOTA (MIOTA) has been quite volatile today. It opened the day at $0.503, hit a low of $0.492 before pushing back to its opening price of $0.503. The $0.503 price level is now acting as key resistance.  IOTA has in the course of the day formed a double-top at this price level, a resistance point that is enhanced by the fact that it is on the 200-day MA. The fact that IOTA has failed to break above this price level is an indicator that it could be headed lower in the next 24-hours.  However, to short IOTA (MIOTA), it would be best to wait until in breaks below the day’s low of $0.4952. This would be confirmation that bears are in control. Such a position would have a good exit point at $0.485. That’s a price that IOTA (MIOTA) has ranged at in the last two weeks, and one where IOTA (MIOTA) could find support in the next 24 hours, if bears gain momentum.

IOTA

However, if there is an increase in buying volumes, and IOTA (MIOTA) pushes above the day’s resistance price level of $0.503, it would be best to go long, with a target of $0.511. That’s the last price where IOTA (MIOTA) has experienced some resistance in the last one week.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been bearish in the day. It opened the day at $9.79, and made a bullish spike to $9.86. However, this spike in price failed to push it above the 200-day MA resistance level at $9.89. That’s a good indicator that Ethereum Classic (ETC) bulls are not that strong at the moment, which means it could be headed lower. To short Ethereum Classic (ETC), it would be prudent to wait until it breaks below the day’s low of $9.64, as a confirmation. If Ethereum Classic (ETC) drops below this price, there is a good possibility that it could hit $9.49 in the day. That’s a price it has ranged at in the past week, and one that could offer significant support.

However, if in the course of the day, IOTA (MIOTA) gains bullish momentum and pushes above the day’s key resistance level at $9.89, it would be more prudent to go long, with a target of $10.04. That’s a price level where IOTA (MIOTA) has ranged at in the last 3 days, and one that could be a good exit point for a short-term trade.

Tron (TRX)

Tron (TRX) has been slightly bullish in the day. It has pushed up from a low of $0.0232 to an intra-day high of $0.0235. However, it looks like it has lost bullish momentum, after failing to break above the 55-day MA, which is a key resistance point in the day. If in the course of the day, Tron drops below the day’s low of $0.023, it would be best to go short, since it would mean that bears are in control of the market. Such a position would have a possible exit point at $0.0223, which is a key support level on the 6-hour 200-day MA.

 

However, if in the course of the day, Tron (TRX) pushes above the 55-day MA at $0.0236, it would be best to go long, with a target $0.0237 on the 55-day MA. If it pushes above this level, it could possibly test $0.0241, on the 200-day MA.

 

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