Litecoin, XRP, IOTA

Litecoin (LTC)

Litecoin (LTC) has been bullish for the past 24-hours. In this period, it has pushed from a low of $31.27 to a high of $34.20. This rally has seen it break key resistance at $32.44 on the 1-hour 200-day MA. Buying volumes are high too, indicating that Litecoin (LTC) could be headed higher. In the last few hours, Litecoin has retraced to $33.60, which could be indicative of profit taking, and a possibly good entry point into a long position.  A long position between this level and the day’s high of $34.20 would have a good exit point at $36.35. This is a key resistance level for Litecoin (LTC) on the 12-hour 200-day MA.

However, there is also the risk that Litecoin (LTC) could reverse. Across multiple time frames, Litecoin (LTC) has formed what looks like a double top at $33.59. This could be an indicator of an impending reversal, and an opportunity to go short on Litecoin (LTC). To go short on Litecoin (LTC), it would be best to wait for a break below the 1-hour 200-day MA at $32.44. This would be a signal that bears are back in control of the market. A short position at this price level would have a good exit point at $30.73. This is 3-day support level, and a possible exit from a short position in the next 24-hours.

XRP (XRP)

XRP (XRP) has been on a weak uptrend for the past 24-hours. In this period, it has pushed up from a low of $0.30 to a high of $0.317. In the last 10-hours, it has been trading in a range between the 1-hour 200-day MA at $0.311 and the 55-day MA at $0.317. To trade in XRP (XRP), it would be best to wait for a break outside of this range. In the event that XRP (XRP) breaks out to the upside, and extends above the next key resistance at $0.320, it would be a signal to go long with a target of $0.342. This is a 48-hour high and a possible exit point from a 24-hour long position.

However, in the event that XRP (XRP) loses upside momentum and drops below the 200-day MA at $0.311, it would be an indicator of increased bearish sentiment. This would be a signal to go short with a target of $0.294. This is a 3-day support level for XRP (XRP) and a possible exit point from a short position.

IOTA (MIOTA)

IOTA (MIOTA) has been trading sideways for the past 24-hours. In this period, it has been oscillating between $0.263 and $0.245. To trade in IOTA (MIOTA), it would be best to wait for a clear break outside of these levels. In the event that IOTA (MIOTA) pushes above $0.263 with high volumes, it would be a signal to go long with a target of $0.271. This is a key resistance level for IOTA on the 1-hour 200-day MA.

However, in the event that IOTA (MIOTA) breaks out to the downside and pushes below the 24-hour low of $0.245, it would be a signal to go short with a target of $0.216. This is a key support level for IOTA (MIOTA) on the 1-day chart, and a possible exit point from a short position.

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