Waves

IOTA (MIOTA)

IOTA (MIOTA) has been trading sideways for the past 24-hours. In this period, it has been oscillating around the 100-day MA at $0.232. As such, to trade in IOTA (MIOTA), it would be best to wait for a clear breakout. To go long on IOTA (MIOTA), it would be best to wait for a break above the 200-day MA at $0.253. This is a key resistance point for IOTA (MIOTA), and a signal of bullish momentum in the market. A long position would see IOTA (MIOTA) possibly test a high of $0.279. This is a week’s high, and a possible exit point from a short-term long position.

However, if IOTA (MIOTA) breaks out to the downside and pushes below the day’s low of $0.266, it would be an indicator that bearish sentiment is back in the market. This would be a trigger to go short with a target of $0.204. That’s a 4-day low and a possible exit point from a short-term short position. In the event that IOTA (MIOTA) doesn’t have any major breakout in the course of the day, then it could possibly trade in a range between $0.239 and $0.227 all through the day.

Zcash (ZEC)

Zcash (ZEC) has been on a downtrend for the past 48-hours. In this period, it has dropped from a high of $63.75 to a low of $55.69. In this period, it has breached the 100-day MA at $59.34, an indicator that bear power is strong. This means that shorting Zcash (ZEC) offers the best risk-reward for Zcash (ZEC). For a more refined short order on ZCash (ZEC), it would be best to wait for a break below the 48-hour low of $53.87. This could possibly see ZCash (ZEC) test a low of $50.44 in the day. This is a 4 day low and a possible exit point from a short-term sell order.

However, if in the course of the day ZCash (ZEC) gains upside momentum and pushes above the 200-day MA at $65.93, it would be an indicator that bullish sentiment is back. This would be a trigger to go long with a target of $75.60. That’s a week’s high, and a possible exit point from a short-term long position.

XRP (XRP)

XRP (XRP) has been bearish for the past 48-hours. In this period, it has dropped from a high of $0.329 to a low of $0.299. This drop has seen it breach the critical 55-day MA at $0.312. This is an indicator that bears are still in control. To go short on XRP (XRP), it would be best to wait for a break below the day’s low of $0.30. A short position at this level would have a good exit point at $0.291. This is a 3-day low and a possible reversal point for XRP in the day.

On the other hand, if XRP reverses and pushes above the 200-day MA at $0.332, it would be best to go long with a target of $0.355. This is a 5-day low high and a possible exit point from a long position. A break above this could see XRP (XRP) test $0.40, a major short-term resistance point.

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