XRP (XRP) is the only crypto in the top 10 that has shown signs of gains in the last 24-hours. It has also lost the least in this bloodbath, an indicator that buying momentum in XRP is strong, relative to the rest of the market. Looking at the charts, XRP dipped to $0.432, but it has since established support at $0.455 an indicator that it could be headed up in the next 24-hours. To go long on XRP (XRP), it would be best to wait for a break above $0.485, which is XRP’s high in the next 24-hours. This would be a clear indicator that bulls are in control, and would be a trigger to go long with a target of $0.518. That’s a key resistance level for XRP in the day, and a possible exit point from an intra-day buy order.
However, if XRP breaks below key support at $0.455, and pushes below the day’s low at $0.432, it would be best to go short, with a target of $0.410. That’s a key support level for XRP on the 12-hour 200-day MA. This is a major support level, one where XRP (XRP) could consolidate at in the day.
Ethereum Classic (ETC)
After several hours of heavy selling, Ethereum Classic (ETC) is consolidating between $7.60 and $8.04. This could be an indicator that the heavy selling is over. To make a long entry into Ethereum Classic (ETC), it would be best to go long with a target of $9.19. That’s a key resistance level for Ethereum Classic (ETC) and one where it could possibly reverse at in the day. If it breaks above this price level, Ethereum Classic (ETC) could test $11.15. That’s the next key resistance on the 12-hour 200-day MA.
On the other hand, if Ethereum Classic (ETC) break below $7.60, and extends below the day’s low of $7.20, it would be best to go short, with a target of $6.79. That’s the lowest price it has hit in the last 48-hours, and a possible exit point from a short position if bitcoin doesn’t break below $5000 and pull the market down with it.
IOTA (MIOTA) has been bearish for the past 24-hours just like the rest of the market. However, in the past few hours, it has consolidated between $0.439 and $0.403. To make a trade in IOTA (MIOTA), it is best to wait for a break outside of this price level. If in the course of the day IOTA (MIOTA) breaks above $0.439, it would be best to go long with a target of $0.502. That’s the next key resistance point in the day and one that could be a good exit point in the day.
However, if it breaks below $0.403, it would be best to go short with a target of $0.350. That’s the lowest price it has hit in the last 24-hours and one where IOTA (MIOTA) could reverse in the day. If it breaches this price level, it could hit $0.30 in the day. Though this is highly unlikely given that bitcoin (BTC) seems to have established support around $5300 – $5400 in the last 12-hours.