Ethereum, IOTA, Stellar

Ethereum (ETH)

It’s another bullish day for Ethereum (ETH), after it started the New Year in positive territory. In the past 48-hours, Ethereum (ETH) has pushed from a low of $135.77 to a high of $162.68. Buying volumes are on the rise too. This makes a long position around $154.07 and $162.68 a low-risk position. Such a position would have a good exit point at $167.31. This is a key resistance level for Ethereum (ETH) on the 12-hour 200 day MA. If buying momentum pushes Ethereum (ETH) above this level, then chances are that it could test $264.32. This is a key resistance point for Ethereum on the 1-day 200-day MA.

However, in the scenario that Ethereum (ETH) fails to push above the 12-hour 200-day MA at $167.31, it would be an indicator of a possible short-term correction. This would be a trigger to go short with a target of $114.95. This is a key support level for Ethereum (ETH) on the 3-hour 200-day MA, and a possible exit point from a short-term sell position.

IOTA (MIOTA)

Like the rest of the market, IOTA (MIOTA) has been bullish for the past 48-hours. In this period, it has pushed from a low of $0.356 to a high of $0.398. Buying volumes are high too, an indicator that the $0.379 and $0.398 level could be an ideal entry point for a long position. A long position at this price level would have a possible exit point at $0.413. This is a key resistance level for IOTA (MIOTA) on the 12-hour 200-day MA. If it pushes above this level, IOTA (MIOTA) could test $0.60 in the day. This is a key resistance point on the 1-day chart. However, this sentiment could still be a short-term rally in a bearish market.

In the scenario that IOTA (MIOTA) fails to push above the 12-hour 200-day MA at $0.413, and starts to drop, it would be an indicator of a possible reversal. This would be a trigger to go short with a target of $0.303. This is a key support level for IOTA (MIOTA) on the 3-hour 200-day MA and a possible exit point from a short-term sell position.

Stellar (XLM)

Like all major cryptos, Stellar (XLM) has started the New Year in positive territory. In the past 48-hours, it has pushed up from a low of $0.112 to a high of $0.122. Buying volumes are relatively high too, an indicator that bullish sentiment could be on the rise. As such, a long position between $0.119 and $0.122 would be ideal in the short-term. Such a position would have a good exit point at $0.147. This is a key resistance point for Stellar (XLM) on the 12-hour 100-day MA.

However, if momentum fails and Stellar fails to push above the 3-hour 100-day MA at $0.122, it would be an indicator of increased bearish sentiment. This would be a trigger to go short with a target of $0.111. This is a 7-day low and a possible exit point for Stellar in the short-term. If this level holds, Stellar could consolidate around it and could act as possible long-term support for XLM in 2019.

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