XRP, IOTA, Stellar

IOTA (MIOTA)

The crypto market seems to have lost the momentum it had gained earlier in the week. Today, the market is in the red, and as a result, IOTA (MIOTA) too has dropped. In the last 12-hours, IOTA (MIOTA) has dropped from $0.311 to a low of $0.276. This bearish sentiment seems to have confirmed by its drop below the 100-day MA, which is a key support level in the short-term. To go short on IOTA (MIOTA), it would be best to wait for a break below the day’s low of $0.276. This would be a clear signal that bears are in control. Such a position would have a good exit point at $0.261. That’s a reversal point for IOTA (MIOTA) in the last 4 days and a possible exit point from a short-term sell position.

However, in the scenario that IOTA (MIOTA) breaks above the 100-day MA at $0.287 and holds above this level for several hours, it would an indicator that bulls are returning to the market. To go long on IOTA (MIOTA), it would be best to wait for a break above the upper range of $0.304. This would be confirmation that bulls are fully in control of the market. A long position on IOTA (MIOTA) at this level would have a good exit point at $0.393. That’s a key resistance level for IOTA (MIOTA) on the 3-hour 200-day MA.

XRP (XRP)

XRP (XRP) has been on a downtrend for the past 12-hours. In this period, it has dropped below key support on the 100-day MA at $0.375. This is an indicator that there is strong downside momentum in XRP at this point.  This is confirmed by the fact that in the last 5 hours, it has pulled back, but it has failed to break back above the 200-day MA at $0.375. To go short on XRP (XRP), it would be best to wait for a break below the day’s low of $0.355. This would be a signal of increased bear power, and the possibility of a sustained downside. A short position around this level would have a good exit point at $0.350. That’s a price level it has ranged at in the last 4-days and a possible exit point from a short position.

However, if XRP pushes upwards and breaks above the 200-day MA at $0.385, it would be best to go long with a target of $0.402. That’s a key resistance point for XRP in the day.

Ethereum Classic (ETC)

After a downside break just like the rest of the market, Ethereum Classic (ETC) has found support around $4.73 on the 100-day MA. However, upside resistance is close, at $4.89 on the 200-day MA. This is an indicator that Ethereum Classic (ETC) could be range bound for the next 24-hours. However, in case Ethereum Classic (ETC) gains upside momentum, pushes above the 200-day MA at $4.89 and extends above the 24-hour high of $5.05, it would be best to go along with a target of $5.40 on the 3-hour; 100-day MA. A break above this could see it test $7.14 on the 200-day MA.

In the scenario that Ethereum Classic (ETC) breaks out to the downside below the 100-day MA at $4.73, it would be an indicator of increased bear power. This would be a trigger to go short with a target of $4.31. That’s a 4-day reversal point for Ethereum Classic and a possible exit point from a short position.

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