XRP has been slightly bearish in the last 24 hours. In this period, it has broken down to a low of $0.456, before stabilizing between $0.464 and $0.459. However, bearish sentiment remains prevalent. That’s because even as the price stabilizes, it has failed to break above the 200-day MA at $0.464, a price level that is now acting as major resistance. To make a low risk short entry in XRP (XRP), it would be best to wait until the price retests the day’s low of $0.456. This would be confirmation that bears are in control of the market, and could possibly push the price to around $0.446. That’s the last low it has hit in the last 4 days, one that is likely to offer major support in the day.
However, if in the course of the day XRP (XRP) pushes above the 200-day MA at $0.464, it would be best to go long, with a target of $0.470. That’s the next major resistance level in the day, one that could offer a good exit point from a long position in the day. If XRP breaks above this price level, XRP could test $0.478 in the day, one at which XRP could lag in the day.
IOTA (IOTA) has been bearish in the day, and has been trading in a bearish channel, with the 21-day MA acting as resistance. IOTA’s bearish momentum was confirmed after it broke major support at $0.493. As such, a short position at current prices would be most idea, with a possible exit point of $0.46. That’s a major resistance level in the day.
However, if in the course of the day IOTA breaks out the upside, and pushes above the 100-day MA at $0.496, then it could test $0.50 on the 1-hour 200-day MA. A break above this price could see IOTA (MIOTA) test a high of $0.637 on the day chart’s 100-day MA.
Ethereum Classic (ETC)
Like the rest of the market, Ethereum Classic (ETC) has been relatively bearish in the last 24-hour, hitting a low of $9.64 in this period. However, this is a price level at which, it has lagged at in the last 48 hours. That’s an indicator that Ethereum Classic (ETC) could possible reverse at this point and turn bullish. In case it turns bullish it would be best to wait for it to break above the 24-hour resistance level at $9.75, for confirmation. This would see Ethereum Classic (ETC) possibly rise to $9.85, which is a key resistance point on the 200-day MA. A push above this price level could see ETC test $10 in the next 24-hours.
However, if in the course of the day ETC breaks below the $9.65 support level, it would be an indicator that bears are still in control. This could push it lower with a target of $9.33. That’s its low for the last 2 weeks, and could be a possible exit point for a short-term short position. A break below it could see ETC drop to $9.03, which is the lowest price it has hit this month.