IOTA (MIOTA) started the day in negative territory, but it seems to have bottomed out after hitting a low of $0.54. In the last 7 hours, it has recovered most of its losses, and it now trading at $0.58. It has also formed support at $0.56, an indicator that it could be on a rebound. For an investor looking to get into IOTA (MIOTA), it is best watch out for the $0.58 and $0.56 levels. If it breaks above $0.581, and past the day’s high of $0.59, then it would be a signal to buy, with a target of $0.63.
On the flip side, if the price of IOTA breaks below $0.56, then it would be a signal to go short, with a target of $0.541. That’s the day’s support level, one that could hold in the next 24 hours. One also needs to keep an eye on volumes. If buying volumes continue to rise, bullish momentum could push it above $0.60. On the other hand, a drop in volumes could reinforce bearish momentum, and push the price below $0.50.
Ethereum Classic (ETC)
After yesterday’s price drop that pushed Ethereum Classic to a low of $11.09, the price has now stabilized in a range at $11.26 and $11.66. This could signify two things, either the price has hit a bottom, or it is consolidating, before the price heads further downwards. For a day trade, it is best to watch out for a break outside of $11.26 and $11.56.
If the price breaks below $11.26, it could be an indicator to go short with a target of $10.65. That’s the lowest point it has hit in the last in the last 2 weeks, one that could offer a significant level of support. On the other hand, if the price of Ethereum Classic (ETC) breaks above $11.56, it could be head higher with a target of $12.31.
Neo (NEO) has slowed down after yesterday’s drop that saw it hit a low of $17.99. Currently, it is trading in a range between $19.96 and $19.09. For an investor looking to day trade NEO (NEO) it would be best to wait until the price breaks outside this range. If the price breaks outside this range to the downside, there is a good chance that it would retest $17.99.
On the flipside, if the price rises above $19.89, it would be best to go long, with a target of $21.28. That’s a key resistance level on the 200-day moving average. A break above this level could see it rise to $22.05 in the day.