IOTA, ZCash, Ethereum Classic

IOTA (MIOTA)

IOTA (MIOTA), like the rest of the market, has made a slight pullback in the last  6-hours. This has seen it push to a high of $0.301 and break above the 55-day MA resistance. However, the price has fallen back below this resistance level and has been trading below it for the few hours. This is an indicator that the pullback may have been shortlived and that IOTA (MIOTA) could be headed lower in the day. To short IOTA (MIOTA), it would be best to wait for a break below the $0.270, intra-support reversal level. This would be confirmation that bears are in control. Such a short position would have a good exit point at $0.251. That’s a 48-hour low and a possible exit point from a 24-hour short position.

However, in the event that IOTA (MIOTA) breaks above the 55-day MA and holds, it would an indicator that bulls are gaining strength in the market. This would be a signal to go long with a target of $0.330. That’s a key resistance level for IOTA (MIOTA) on the 200-day MA. It could possibly range or reverse at this point. If it pushes above it, then IOTA (MIOTA) could test $0.40 in the day.

Zcash (ZEC)

Like all other cryptos, Zcash has made a slight pullback today. In the last few hours, it has pushed above the 55-day MA at $70.92 and held there for some time now, an indicator that it could be headed lower. However, in the last few hours, it has retraced and is headed back to this level, which means it could either bounce off it or drop further. If in the day, Zcash (ZEC) pushes above the day’s high of $75.25, it would be an indicator of increased bullish sentiment and a trigger to go long. A long position in Zcash would have a good exit point at $86.12 on the 200-day MA.

On the other hand, if Zcash (ZEC) pushes below the 55-day MA and extends below the $64.49 minor support, it would be time to go short. A short position in Zcash (ZEC) at this price level would have a good exit point at $60.79. That’s a 48-hour low and a possible exit point from a short position.

Ethereum Classic (ETC)

Ethereum Classic (ETC) made a minor run up in the last few hours and hit a high of $4.96 above the 55-day MA resistance. However, it has since retraced and is now trading below it. That’s an indicator that Ethereum Classic (ETC) could be headed lower, and a short entry at $4.70 would be most ideal.  Such a position would have a good exit point at $4.39. That’s ETC’s last low in the past 48-hours and a possible exit point from a short position.

However, if Etheruem Classic (ETC) pushes above the day’s high of $4.96, and extends above the 100-day MA at $5.18, it would an indicator of increased bullish sentiment and a trigger to go long. A long position at this level would have a possible exit point at $5.76. That’s a key exit point for Ethereum Classic (ETC) on the 200-day MA.

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