XRP, Tron, Ethereum Classic

XRP (XRP)

XRP has made significant gains in the last 48-hours and has pushed from a low of $0.465 to a high of $0.569. However, in the last 8-hours, it has retraced to a low of $0.525.  This could either be an indicator of profit taking after a rally that saw XRP (XRP) gain by over 20% or a reversal. If it is a case of profit-taking, then chances are that bulls will return to the market within the next 24-hours. However, if it continues to drop, then chances are that it could be a bearish reversal. To make a long entry in XRP (XRP), it would be best to wait until it pushes above the last high of $0.569. This would be confirmation that bulls are in control, and would be a trigger to go long with a target of $0.625. This is the last price at which, XRP (XRP) has reversed in the last 24-hours, and one at which, it could reverse in the next 24-hours.

However, if in the course of the day, XRP drops below the day’s support of $0.531 and extends below the day’s low of $0.525, then a short position would be most ideal. It would have a good exit point at $0.466. That’s the last low it has hit in the last 48-hours, one at which, it could reverse at in the next 24-hours.

Tron (TRX)

Tron (TRX) has been in a bull run for the last 72-hours. In this period, it has pushed from a low of $0.0023 to a high of $0.0248. However, in the last 9-hours, it has retraced to a low of $0.0241 but is gaining upside momentum again. This is an indicator that the retracement was merely profit taking, in a bullish market. To go long on Tron (TRX), it would be best to wait for a break above the day’s high of $0.0248. This would be confirmation of bullish sentiment, and a trigger to go long with a target of $0.0264. That’s the next key resistance level on the 12-hour chart.

However, if in course of the day, Tron (TRX) breaks below the day’s low of $0.0241, it would be more prudent to go short, with a target of $0.0234.  That’s the next key support in intra-day trading.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been relatively bullish in the last 72-hours. In this period, it has pushed from a low of $9.12 to a high of $9.723. However, in the last 8-hours, it has established resistance at $9.70. To go long on Ethereum Classic (ETC), it would be best to wait for it to make a clear break above the $9.70 resistance level. This would be confirmation of bullish sentiment with a target of $10.12.  That’s the next key support level on the 100-day MA on the 12-hour chart.

However, if Ethereum Classic (ETC) breaks below the day’s low of $9.55, it would be a signal of a bearish reversal. This would be a trigger to go short with a target of $9.21. That’s the next key support level on the 200-day MA a level at which, it could reverse at in the day.

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