IOTA, XRP, Ethereum Classic

IOTA (MIOTA)

Like the rest of the market, IOTA (MIOTA) has been bearish for the better part of the day. In the last 24-hours, it has dropped from a high of $0.280 to a low of $0.257. However, in the last 8 hours, it has been trading in a range between $0.269 and $0.260. This is an indicator that it could be headed for a breakout in either direction. In case it breaks out to the upside and pushes above the 21-day MA at $0.269, it could be an indicator that it will be bullish for the next 24-hours. This would be a trigger to go long with a first target of $0.277 on the 55-day MA. However, if it breaks above this price level, it could possibly test $0.288 on the 100-day MA as the second possible exit point in the day.

In the scenario that IOTA (MIOTA) breaks out to the downside, pushes below $0.260 and extends below $0.258, it would be an indicator that bears are still firmly in control of the market. This would be an indicator to go short with a target of $0.217. This is a key support level on the weekly chart and a possible exit point from a 24-hour short position.

XRP (XRP)

Like all other cryptos, XRP (XRP) is in a downtrend. However, unlike most other cryptos, its drop has been relatively weak and seems to have slowed down completely in the past 6-hours. This could be an indicator that XRP (XRP) could be primed for a reversal. If in the next 24-hours, XRP breaks out to the upside and pushes above then 55-day MA at $0.365, it would be best to go long with a target of $0.378.  That’s a key resistance level for XRP (XRP) on the 100-day MA. If it breaks above this level, it could possibly rise to $0.414 on the 200-day MA.

However, in case XRP (XRP) breaks below the day’s low of $0.346, it would be an indicator to go short with a target of $0.340. That’s a 4-day low and a possible exit point from a 24-hour short position. A break below this could see it test the psychological support level of $0.30.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been trading in a range for the past 24-hours, between $4.43 and $4.31. To trade in Ethereum Classic (ETC), it would be best to wait for a breakout. In case Ethereum Classic (ETC) breaks out upside and pushes above the 55-day MA at $4.55, it would be an indicator of short-term bullish sentiment.  This would be an indicator to go long with a first target of $4.73 on the 100-day MA.  If it pushes above this level, then it could possibly rise to $5.27 on the 200-day MA.

However, if it breaks below $4.31, and extends below the 48-hour low of $4.24, it would be best to go short, with a target of $2.51. That’s a key support level for Ethereum Classic (ETC) on the weekly chart, and a possible exit point. This position is likely to hold in the day, and could also mark the beginning of a long-term bull run for Ethereum Classic.

 

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