Ethereum Classic (ETC)
Ethereum Classic (ETC) has had a good day, pushing up from a low of $12.72 to a high of $13.08. However, in the last 2 hours, it has retraced to 12.91, nearly testing the day’s support level of $12.87 along the 100-day moving average. This is a good indicator that Ethereum Classic (ETC) could be headed higher. For a low-risk buy entry, it would be best to wait it out until the price breaks above $12.99. A short-term buy entry at this price level would have a profit target of $13.14, a level at which ETC has experienced some level of profit taking in the past.
However, if the price fails to break above $12.99, then chances are that it could test lower levels within the day. To make a low risk sell order, it would be best to wait until the price drops below the 100-day moving average at 12.87. A sell order placed at around $12.82 would have a good risk/reward ratio with a profit target of $12.67. That’s the 1-hour 200-moving average level, a level at which ETC could possibly reverse or range for a short while.
Stellar (XLM) has had some pretty low volumes in the last 24 hours, though the momentum has been largely positive. Like most of the market, it has retraced after hitting a high of $0.228. It is now trading along a key support level on the 100-day moving average. If this level holds, then Stellar could push above the day’s high of $0.228 and test $0.233, which is a key resistance level in the last 5 days.
However, if it breaks below $0.228, then Stellar could be headed lower, with a target of $0.220 on the 200-day moving average. A break below this level could see it sink deeper into bear territory with a target of $0.217, the lowest it has gone in the last 24 hours.
NEO (NEO) has been on a solid bull run for the last 3 days. It has been rising since it hit a low of $18. 33 on the 30th of August. Today, it has hit a high of $21.85 in the last 12 hours. However, in the last 2 hours, NEO (NEO) has retraced to around $20.99, but it’s now pushing back up, having regained back above $21.40. Buying volumes are on the rise too, indicating that money is flowing into NEO (NEO) at the moment.
For day traders, a buy entry at around $12.40 – $12.42 would offer the lowest risk entry into NEO (NEO) with a target of $25.64, along the 100-day moving on the 12-hour chart. NEO (NEO) is without a doubt one of the most bullish cryptos at the moment.