ZCash, IOTA, XRP

Zcash (ZEC)

Zcash has been strongly bearish for the last 3 days. It has dropped from a high of $139.58 to a low of $124.67. Its bearish sentiment is confirmed by the fact that in the last 15 hours, it has crossed below the 200-day MA and held below it.  Its pullback in the last 8 hours has failed to push it above this price level. If in the course of the day, Zcash (ZEC) fails to break above the 200-day MA at $129.03, it would be best to go short. A short position at this price level would be ideal with a target of $124.28. That’s a key support on the 6-hour 200-day MA. A break below this could possibly see its value drop to $114.35. That’s the next key support level for Zcash (ZEC) in the day.

However, if in the course of the day, Zcash pushes above the 200-day MA and extends above $130.07, it would be best to go long with a target of $139. That’s a key resistance level  in the day. If momentum increases and it pushes above this level, then it could possibly push to $180.33 within the day. That’s the next key resistance level in the day chart on the 200-day MA and a possible exit point from a short-term buy order.

IOTA (MIOTA)

IOTA (MIOTA) has been relatively bullish in the last 48-hours. In this period, it has pushed up from a low of $0.477 to a high of $0.508.  It has also broken above major resistance at $0.494 on the 200-day MA. This is a bullish signal for IOTA (MIOTA). To go long on IOTA (MIOTA), it would be best to wait for a break above the day’s high at $0.508. This would be confirmation that bulls are in control. A long position at this price level would have a possible exit point at $0.518. That’s the next key resistance level for IOTA (MIOTA) on the 6-hour 200-day MA.

However, if IOTA (MIOTA) drops below the 200-day MA at $0.495, it would be best to go short with a target of $0.479. That’s the next key support level for IOTA in the day.

XRP (XRP)

After trading in a range over the weekend, XRP has broken out to the upside and has hit a high of $0.535. This is an indicator that bullish momentum is returning to the market.  If this momentum holds, then XRP (XRP) could be headed higher. To make a long entry in XRP (XRP), it would be best to wait for a break above the day’s high of $0.535. A long entry at this price level would see the value of XRP hit $0.555. That’s the next key resistance level for XRP in the day, one where it could possibly reverse.

However, if XRP (XRP) pulls back to the 24-hour range level of $0.506 and extends below this level, it would be best to go short, with a target of $0.487. That’s the next key support level on the 6-hour 200-day MA. However,  with the current high buying volumes in XRP at the moment, it is unlikely to drop below $0.50 in the next 24-hours.

 

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