Holochain, HOT Coin

XRP (XRP)

XRP has had an impressive run against Bitcoin (BTC) for the past 5 days. However, it has not held up so well against the dollar.  In the last 24-hours, it has dropped from a high of $0.508 to test a low of $0.411. However, it has stabilized and established minor support at $0.450.  But bearish momentum abounds and in the last hour, it has formed a bearish engulfing pattern, an indicator that it could be headed lower.  To short XRP (XRP), it would be best to wait for a break below the $0.450 support level. This could possibly see it test $0.411 in the day. That’s the day’s low and a possible exit point from an intra-day short position. A break below this could see XRP test $0.28, which is a key support level on the 12-hour chart.

But in the event that XRP (XRP) gains upside momentum and pushes above the day’s high of $0.508, it would be an indicator that bulls are back in the market. This would be a trigger to go long with a target of $0.530. That’s the next key target for XRP (XRP) in the day and a possible exit point from an intra-day long position. If it pushes above this level, then it could possibly push to $0.60, which is a psychological resistance level for XRP in the short-term.

IOTA (MIOTA)

In the last 24-hours, IOTA (MIOTA) has been heavily bearish. It has dropped from $0.368 to a low of $0.28. However, it has since rebound to $0.339 but selling pressure seems to have returned to the market, which means that it could be headed lower. To go short on IOTA (MIOTA), it would be more prudent to wait for a push below the day’s low of $0.28.  Such a position would have a possible exit point at $0.13, which is a year’s low and a possible exit point from short position on IOTA (MIOTA).  However, chances are that the long-term support level of $0.30 could hold in the day.

On the other hand, if IOTA (MIOTA) pushes above the day’s high of $0.339, it would be best to long with a target of $0.363. If it breaks above this level, then $0.41 could be the next target in the day.

Ethereum Classic (ETC)

Like the rest of the market, Ethereum Classic (ETC) has taken a hit in the last 24-hours to test a low of $5.20.  Given that bearish sentiment in the market is still strong, it would make sense to go short on Ethereum Classic (ETC). To make a low-risk short entry in Ethereum Classic (ETC), it would be best to wait until it drops below the day’s low of $5.20, as confirmation of bearish sentiment. Such a position would have a good exit point at $2.28. That’s a yearly support level and a possible reversal point for Ethereum Classic (ETC).

On the other hand, if Ethereum Classic (ETC) reverses and pushes above the day’s high of $6.44, it would be best to go long with a target of $7.50. This has been a consolidation price for Ethereum Classic (ETC) and a possible exit point.

 

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