IOTA has consolidated in last 24 hours. This is after the heavy sell-off that it experienced on Monday. It has also established strong support at $0.450 and has held above this price after Monday’s sell-off. For an investor looking into IOTA (MIOTA), it would be best to wait until it breaks out of its current consolidation range between $.450 and $0.460. In case IOTA (MIOTA) breaks to the downside below $0.450, it would be best to go short with a target of $0.420. That’s the next major support level for IOTA (MIOTA), one where it could possibly reverse in the day.
However, if in the day, IOTA (MIOTA) pushes above $0.46, then it would make sense to go long with a target of $0.464 on the 55-day MA. If buying momentum increases and IOTA pushes above the $0.464 resistance level, it would be best to go long with a target of $0.474. That’s the next possible resistance price for IOTA (MIOTA) on the 100-day MA. Such moves will be fully premised on volumes. If there is an increase in buying volumes, then $0.474 would be highly probable in the day.
After Monday’s drop, ZCash (ZEC) has stabilized and is now trading in a range between $116.33 and $115.46. If in the course of the day, ZCash breaks below this price range, it would be an indicator that bears are in control of the market, and that it could be headed lower. If this happens, shorting ZCash (ZEC) would offer the best reward potential. Such a position would have a possible exit point at $108.87. That’s a price where it has ranged at in the past and one that could be a good exit point for an intra-day short position.
However, if in the course of the day ZCash (ZEC) pushes above $116.33, it would be best to go long, since it would be confirmation of increased bullish strength. Such a position would have a good exit point at $118.46 on the 55-day MA. If it pushes above this level, then $119.97 would be the next major resistance on the 100-day MA.
Like the other cryptos, Tron is consolidating after Monday’s sell-off. In the past 24-hours, Tron has established strong support at $0.0220 and resistance at $0.0224. To make a trade in Tron (TRX), it is best to wait for it to break outside of this range. If Tron drops below the $0.0220 support level, it would be best to go short with a target of $0.0213. That’s the next key support level for Tron (TRX) and one that would offer a good exit point from a short-term sell order.
On the other hand, if Tron (TRX) pushes above $0.0224, it would be an indicator that bulls are in control. This would be a signal to go long with a target of $0.0227. That’s the first major resistance level for Tron (TRX) on the 55-day MA, one where Tron (TRX) could reverse in the day. If it pushes above it, then it could hit $0.023 on the 100-day within the day. But this will be premised on volumes and market-wide sentiment.