IOTA, XRP, Litecoin

IOTA (MIOTA)

Bitcoin (BTC) has broken below $4000 and as always, pulled the entire market with it, including IOTA (MIOTA). In the last 18 hours, IOTA (MIOTA) has broken below the significant 200-day MA support level at $0.289, which is an indicator that bears are in control of the market. In the last 3-hours, it has pulled back to around $0.270. The fact that this pullback has failed to clear the last bearish candle is an indicator that bears are still in control. To go short on IOTA (MIOTA), it would be best to wait for a break below the day’s low of $0.265, as confirmation. A short position on IOTA (MIOTA) would have a good exit point at $0.248. That’s a 2 week low and a possible reversal point for IOTA (MIOTA) in the next 24-hours.

However, in case IOTA (MIOTA) makes a major pull back and pushes above the 100-day MA at $0.295, it would be an indicator that bulls are back in control. This would be a signal to go long, with a target of $0.316. That’s a 48-hour high and a possible exit point for an intra-day long position on IOTA (MIOTA). A break above that could mark the beginning of a short-term rally that could last for a few weeks.

XRP (XRP)

Bitcoin (BTC)’s break below $4000 has seen the value of XRP (XRP) tumbled as well. In the last 18-hours, XRP has dropped below the significant 200-day MA at $0.371 to test a low of $0.347. However, in the last 3-hours, it has stabilized around $0.351. Bulls have tried a pullback at this price level and have failed. This is an indicator that bears are still in control of the market. To go short on XRP (XRP), it would be best to go wait for a break below the day’s low of $0.347 as a confirmation. A short position at this price level would have a good exit point at $0.267. This is a key support level for XRP (XRP) on the day chart.

On the other hand, if XRP makes a pullback above the 200-day MA at $0.372, it would be an indicator that bulls are back. This would be a trigger to go long with a target of $0.385.  That’s a 48-hour high and a possible exit point from a long position.

Litecoin (LTC)  

In the last 48-hours, Litecoin (LTC) has dropped from a high of $34.91 to a low of $30.08. In this period, Litecoin (LTC) has dropped below the key 200-day MA support at $32.48. This is an indicator that bears are fully in control of the market. To go short on Litecoin (LTC), it would be best to wait for a break below the day’s low of $30.08. This would be an indicator of increased bearish momentum. A short position at this price level would have a good exit point at $27.77. This is a two weeks low, and a possible exit point from a short-term short position.

On the flipside, if Litecoin (LTC) pushes back above the 200-day MA, it would be an indicator that bulls may be back in the market. This would be a trigger to go long with a target of $34.88. That’s a 48-hour high and a possible exit point from a long position.

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