XRP (XRP), IOTA (MIOTA) & Zcash (ZEC)

IOTA (MIOTA)

IOTA (MIOTA) has been trading sideways for the past 24-hours.  This is fully in line with bitcoin (BTC)’s price action, which has kept investors on edge in this period. It has stabilized at $4500, but the risks of a downside break abound. To trade in IOTA in the next 24-hours, it is best to wait for it to establish clear direction by either breaking above the 48-hour high of $0.341 or the 48-hour low of $0.280. In the scenario that IOTA (MIOTA) breaks out to the upside and pushes above $0.341, it would make sense to go long with a target of $0.363. That’s a key resistance level for IOTA (MIOTA) on the 100-day MA. A break above this level could see IOTA (MIOTA) test the 200-day MA at $0.402.

However, if in the day IOTA (MIOTA) drops below $0.280, it would make sense to go short with a target of $0.232. That’s the next key support level for IOTA (MIOTA) on the weekly chart and a possible exit point from a short-term short position. This could also mark a possible reversal point before the next bull market, which could put IOTA on a steady path to growth going into 2019.

Monero (XMR)

Like most of the market, Monero (XMR) has been trading sideways for the last 24-hours, due to bitcoin’s price action.  To go long on Monero (XMR) it would be best to wait for a break above the 48-hour high of $76.86 or below the 48-hour low of $64.63. In the scenario that Monero (XMR) breaks below the day’s high of $76.86, it would be best to go long with a target of $79.01. That’s the next key resistance level for Monero (XMR) on the 100-day MA. A break above this could see Monero test $86.38 in the day.

However, if in the day Monero breaks below the day’s low of $64.63, it would make sense to go short with a target of $49.06. That’s a key support level for Monero on the weekly chart and a possible exit point from a short-term short position.

Stellar (XLM)

In the last 24-hours, Stellar (XLM) has gained and lost in equal measure. In this period, it has risen to a high of $0.214 before reversing close to the opening price of $0.187. To trade in Stellar (XLM), it would be best to wait for a break above the day’s high of $0.214 or the day’s low of $0.187. If it breaks out upwards and pushes above $0.214, it would be best to go long with a target of $0.227. That’s a key resistance for Stellar (XLM) on the 100-day MA. A break above this could see Stellar (XLM) test $0.236 on the 200-day MA.

However, if Stellar (XLM) drops below $0.187, it would be best to go short on Stellar. Such a position would have a good exit point at $0.170. That’s a long-term support level, and a possible reversal point for stellar (XLM) before the beginning of a long-term bull run that could see Stellar test its all-time highs. Stellar could have hit the bottom with its  24-hour price action that has pushed it to a long-term support level.

 

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