IOTA, ZCash, XRP

IOTA (MIOTA)

IOTA (MIOTA) has been bearish for the past 24-hours. In this period, it has dropped from a high of $0.397 to a low of $0.370.  Though it has made a slight pullback in the last 8-hours, it has failed to clear the day’s high of $0.397. This 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 $0.370. If IOTA (MIOTA) breaks below this low and extends below the 200-day MA at $0.367, it would be a signal to go short in the day. A short position at this price level would have a good exit point at $0.315. This is a good exit point for IOTA (MIOTA) on the 3-hour 200-day MA.

However, if IOTA (MIOTA) pushes above the day’s high of $0.397, it would be an indicator of increased bullish sentiment, and a trigger to go long in the next 24-hours. A long position at this price level would have a good exit point at $0.409. This is a key resistance level for IOTA (MIOTA) on the 12-hour 200-day MA. A break above this level could see IOTA (MIOTA) test $0.60 on the day chart’s 200-day MA.

Zcash (ZEC)

It’s been a day of mixed fortunes for Zcash (ZEC). In the past 24-hours, it has dropped to a low of $57.95 before bouncing back to a high of $60.67. However, what’s most interesting is that Zcash (ZEC) has in the past 24-hours tested the 200-day MA resistance at $60.39 and failed to break above it. This is an indicator that bullish sentiment is weak in Zcash, which gives a short position a higher probability of success. To go short on Zcash (ZEC), it would be best to wait for a break below the day’s low of $57.95. This would be an indicator of increased selling pressure and a signal to go short. A short position at this level would have a good exit point at $56.88. This is a 4-day low and a possible exit point from a 24-hour short position.

On the other hand, if Zcash (ZEC) pushes above the 200-day MA at $60.39 and holds there, it would an indicator of increased bullish sentiment. This would be a trigger to go long with a target of $69.07. This is a key resistance point for Zcash on the 6-hour 200-day MA.

XRP (XRP)

Like Zcash (ZEC), it has been a day of mixed fortunes for XRP (XRP). In the last 24-hours, XRP (XRP) has dropped to a low of $0.358 before bouncing to a high of $0.371. At the moment, XRP (XRP) has formed a double top at $0.372 with the 200-day MA acting as resistance. This is an indicator that bears are in control. To go short on XRP (XRP) it would be best to wait for a break below the day’s low of $0.358. This would be confirmation that bears are in control. A short position at this level would have a good exit point at $0.338. This is a 2 weeks low and a possible exit point from a short-term sell position.

However, if XRP (XRP) pushes above the 200-day MA at $0.372, it would be an indicator that bulls are in control. This would be a trigger to go long with a target of $0.428. This is a key resistance level for XRP (XRP) on the 12-hour 200-day MA.

LEAVE A REPLY

Please enter your comment!
Please enter your name here