IOTA (MIOTA) has crashed from a high of $0.232 to a low of $0.211. This is in tandem with the decline in the entire market, as Bitcoin has now hit lows of $3200. In the last 8 hours, IOTA seems to have established support at $0.214. This is an indicator that bulls could be coming back to the market. However, to go long on IOTA (MIOTA) it would be best to wait for a break above the 24-hour high of $0.229. This would be confirmation that bulls are back. A long entry at this point would possibly have an exit point at $0.238. This is a 48-hour high and a possible exit point from a 24-hour long position.
However, in the scenario that IOTA (MIOTA) breaks the $0.214 support, it would be confirmation of bearish trend. A short position below this price level would have a possible exit point at $0.145. This is a key support level for IOTA (MIOTA) on the weekly chart. It could also mark a long-term reversal point and the possible beginning of a long-term bull market. Based on the weekly chart, IOTA (MIOTA) is unlikely to break below this level. It is probably the bottom for this crypto.
Ethereum Classic (ETC)
Like all other cryptocurrencies, Ethereum Classic (ETC) has been in a freefall for the past 24-hours. In this period, Ethereum Classic (ETC) has dropped from a high of $4.05 to a low of $3.64. There is no support in sight, which means it could be headed much lower. As such, its current price level of $3.69 makes for a good entry point for a short order. Such a position would have a good exit point at $1.21. This is a key support level for Ethereum Classic (ETC) on the weekly chart. This is yearly low, and a possible bottom for ETC. This could mark the beginning of a new bull rally for ETC.
However, in the scenario that Ethereum Classic (ETC) reverses and pushes above the 100-day MA at $3.93, it could possibly rise to $4.22. This is a 5-day high and a possible exit point in the day.
XRP (XRP) has been heavily bearish for the past 24-hours. In this period, it has dropped from $0.312 to a low of $0.288, and there is no substantive support in sight. This means that its current price is a good entry point for a short-term sell position. Such an order would have a possible exit point at $0.267. This is a key support level for XRP (XRP) in the day chart and a possible exit point from a short position. It could also mark a long-term reversal point for XRP, in a more long-term Bull Run.
However, in the scenario that XRP (XRP) reverses and rises above the day’s high of $0.312, it would be an indicator that bulls are back in control. This would be a trigger to go long with a target of $0.329. This is a 5-day high and a possible exit point from a long position. A break above this could see it possibly test the psychological resistance level of $0.40.