IOTA, Ethereum Classic, ZCash

IOTA (MIOTA)

IOTA (MIOTA) has been trading in a range for the better part of the day. However, in the last 4 hours, it has broken out to the upside and hit a high of $0.498. This bullish breakout has seen it push above the 200-day MA at $0.493. However, it has failed to hold above this level and has been trading below it for the last 4 hours. This could be an indicator that the breakout was a false one. To make a low-risk trade in IOTA (MIOTA), it would be best to wait for a clear break either to the upside or the downside, away from the 200-day MA. If there is a push to the upside and it extends above the 100-day MA at $0.495.  This would be a trigger to go long, with a target of $0.508. That’s the next key resistance level for IOTA, one where it has lagged at in the past one week, and one that would be a good exit point for IOTA (MIOTA) in the next 24-hours. A push above this level could see IOTA (MIOTA) rise to $0.522, where it has reversed at in the week.

However, if IOTA (MIOTA) fails to hold above the 200-day MA and drops below $0.488, it would be best to go short, with a target of $0.475. That’s the next key support level for IOTA (MIOTA) in the day and a possible exit point from a short position.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been trading in a narrow channel between the 100-day MA at $9.64 and the 200-day MA at $9.48.  This is an indicator that Ethereum Classic (ETC) is in a consolidation phase.  To make a trade in Ethereum Classic (ETC), it would be best to wait for a break outside of this range. If it breaks out downwards and pushes below the 200-day MA at $9.48, it would be best to go short with a target of $9.38 on the 6-hour 55-day MA.

On the other hand, if Ethereum Classic (ETC) pushes above the 100-day MA at $9.64, it would be best to go long with a target of $10. That’s the last high it has hit in the last 4 days and a possible exit point from a long-entry.

ZCash (ZEC)

ZCash (ZEC) has been strongly bullish for the past week, pushing from a low of $119.49 to a high of $139.56. However, in the last 4 hours, it has retraced to hit a low of $134.37 on the 55-day MA. It has held at this level, which is an indicator that it could hold as support. If in the day ZCash pushes above this level and extends above the day’s high of $139.56, it would be best to go long with a target of $144.09. That’s a key resistance point on the 12-hour chart.

However, if in the course of the day, it drops below $134.37 and extends below the 100-day MA at $132.40, it would be best to go short with a target of $125.86. That’s the next key support level on the 200-day MA, and a possible reversal point for ZCash (ZEC).

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