XRP, IOTA, ETH

XRP (XRP)

In the past 48-hours, XRP (XRP) has been on a downward spiral. It broke below the 200-day support level at $0.384 to hit a low of $0.338. However, in the last 12-hours, it has retraced a little, but has failed to retest the 200-day MA which is now acting as resistance. This is an indicator that bearish sentiment is still strong. To go short on XRP (XRP), it would be best to wait for a break below the day’s low of $0.338, as confirmation of bearish sentiment. A short position at this price level would have a possible exit point at $0.341 on the 6-hour, 100-day MA. If this support fails to hold, then XRP (XRP) could test $0.284. This is a two week low, and a possible exit point from a 24-hour short position.

However, in the scenario that XRP gains bullish momentum and pushes above the 200-day MA at $0.384, it would be an indicator of increased bullish sentiment. It would also be an indicator to go long with a target of $0.405. This is a 72-hour high, and a possible exit point from a 24-hour long position. A break above it could see XRP (XRP) test the week’s high of $0.466.

IOTA (MIOTA)

In the past 48-hours, IOTA (MIOTA) has dropped from a high of $0.347 to a low of $0.316. But, in the last 12-hours, it has made a pullback to test a high of $0.342.  However, this pullback has failed to push it above the 200-day MA resistance at $0.345. This is an indicator that bulls are not strong enough and there is a high chance of bearish continuation. To go short on IOTA (MIOTA), it would be best to wait for a break below the day’s low of $0.316. This could see it test $0.206. This is a 2-weeks low, and a possible reversal point for IOTA (MIOTA) on the 6-hour chart.

However, in the scenario that IOTA (MIOTA) pushes above the 200-day MA at $0.345, it would be an indicator that bulls are in back in control, and an opportunity to go long. A long position above the 200-day MA would have a good exit point at $0.354. This is a 72-hour high, and a possible exit point from a long position.

Ethereum (ETH)

In the past 48-hours, Ethereum (ETH) has dropped from a high of $136.48 to a low of $116.17. This drop has seen it break the 200-day support level at $125.85, an indicator that bear power is strong in this market. In the past 12-hours, Ethereum (ETH) has made a pullback, but it has failed to push above the 200-day MA at $1287.08. This is a signal to a possible bearish continuation. To go short on Ethereum, it would be best to wait for a break below the day’s low of $116.17. This would be confirmation of bearish sentiment and a trigger to go short, with a target of $83.05. This is a 2-weeks low and a possible reversal point for Ethereum (ETH) in the short-term.

However, in the scenario that Ethereum (ETH) pushes above the 200-day MA at $125.85 and extends above the 100-day MA at $136.85, it would be a signal to go long. A long position at this level would have a possible exit point at $163.48. This is a 5-day high and a possible reversal point for Ethereum (ETH) in the day.

LEAVE A REPLY

Please enter your comment!
Please enter your name here