IOTA, Ethereum, Litecoin

IOTA (MIOTA)

After yesterday’s rise, the market seems to have eased up. IOTA (MIOTA) is now trading at a key resistance level on the 200-day MA. This means that the market could swing in any direction, from this point. In the scenario that IOTA (MIOTA) holds above the 200-day MA and extends above the day’s high of $0.316, it would be a signal to a continuation of the bullish trend that started 48-hours ago. This would be a signal to go long with a target of $0.322. That’s a price level where it has ranged in the last two weeks, and could be a possible exit point from a short-term long position. If it pushes above this level, it could possibly test $0.40. That’s the next key resistance point for IOTA (MIOTA) on the 12-hour chart.

On the flipside, if IOTA (MIOTA) drops below the 200-day MA at $0.298 and extends below the day’s low of $0.290, it would be best to go short with a target of $0.284 on the 100-day MA. Such a drop could see it drop to $0.273. That’s a price level at which, IOTA (MIOTA) has ranged at in the last 4 days, and could act as a price floor in the day.

Ethereum (ETH)

After yesterday’s price run up, Ethereum (ETH) seems to be consolidating around the 200-day resistance at $120.87. This means that in the near-term, this crypto could swing in any direction depending on how the market goes in the next 24-hours. In the scenario that Ethereum (ETH) pushes up above the 200-day MA at $120.87 and extends above the day’s high of $125.18, then it could be an indicator to go long with a target of $127.96. That’s a 48-hour high and a possible exit point from an intra-day long position. If it pushes above this level, it could possibly test $178.04. That’s the next key resistance level on the 12-hour chart.

However, in the scenario that Ethereum (ETH) breaks below the 200-day MA at $120.87 and extends below the day’s low of $116.73, it would make sense to go short with a target of $105.85. That’s a 48-hour reversal point, and a possible exit point from a short-term short position.

Litecoin (LTC)

Litecoin (LTC) is one of the few cryptos in a clear uptrend. In the last 24-hours, it has made a clear break above the 200-day MA resistance point and seems to be headed higher. Its bullish sentiment is confirmed by the fact that it has formed a double bottom at $33.88 and it seems to have bounced off it. To go long on Litecoin, it’s best for it break to break above the 24-hour high of $35.98. This would be confirmation that the trend is upwards. A long position at this level would have a good exit point at $42.75. That’s a key resistance level on the 6-hour 100-day MA.

On the flip side, if Litecoin (LTC) loses momentum and pushes below the day’s low of $33.44, it would make sense to go short with a target of $32.37. That’s a key support level on the 200-day MA and a possible reversal point in the day.

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