Bitcoin, Ethereum, Tron

Bitcoin (BTC)

Bitcoin (BTC) has been trading in a range for the better part of the last 24-hours. But, in the last 12-hours, it has pushed to a high of $3681.1. However, it seems to have hit key resistance at $3675.8 on the 200-day MA. That’s because, after hitting this price level, it has reversed. In the event that Bitcoin (BTC) fails to retest this level, or retests it and fails, it would be an indicator that bears are in control.  It would also be a signal to go short on Bitcoin (BTC) with a target of $3459. This is a 24-hour low, and a possible exit point for Bitcoin (BTC). In the event that this support is broken, it could easily lead to a Bitcoin (BTC) freefall that could see it possibly drop to $3245.3. This is a key support level for Bitcoin (BTC) on the weekly 200-day MA. This could also mark Bitcoin (BTC)’s bottom from a year-long bear run.

However, in the event that Bitcoin (BTC) gains bullish momentum and pushes above the 1-hour 200-day MA at $3675.8, it would be an indicator of increased bullish sentiment. This would be a trigger to go long with a target of $3835.2. This is a key resistance level for Bitcoin (BTC) on the 3-hour 200-day MA.

Ethereum (ETH)

Ethereum (ETH) has been trading in a range for the better part of the last 24-hours.  However, in the last 12-hours, Ethereum (ETH) has made some positive progress, and pushed to a high of $122.13. However, it seems to have hit resistance along the 100-day MA at $121.24 and has been trading below this price level for the past 8-hours. This could be an indicator that bears are retaking control of the market. To go short on Ethereum (ETH), it would be best to wait for a break below the day’s low of $112.22, as confirmation. A short position at this price level would have a good exit point at $102.41. This is a key support level for Ethereum (ETH) on the 6-hour chart.

On the other hand, if Ethereum (ETH) gains upside momentum and pushes above the 1-hour 200-day MA at $123.40, it would be a trigger to go long with a target of $137.65. This is a key resistance point for Ethereum (ETH) on the 3-hour chart 200-day MA, and a possible reversal point in the day.

Tron (TRX)

Tron (TRX) is one of the major cryptos that have been relatively strong as compared to other major cryptos. In the last 24-hours, Tron (TRX) has been on an uptrend, pushing from a low of $0.025 to a high of $0.0272. Its bullish momentum is confirmed by the fact that it has been making higher lows for the 48-hours. These lows are at $0.0251, $0.0257 and currently at $0.0265. This makes its current price of $0.067 a good entry point for a long position. Such a position would have a good exit point at $0.0302. This is a key resistance level for Tron (TRX) in the day, and a possible reversal point in the day.

However, in the event that Tron (TRX) drops below key support at $0.024, it would be a trigger to go short with a target of $0.0235. This is a key support level for Tron (TRX) in the last 48-hours.

 

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